Third party liability insurance of hazardous facility owners: tariffs updated
31 August 2022
News
From 11 September 2022, the Bank of Russia will update compulsory third party liability insurance tariffs for owners of hazardous facilities for damages caused by an accident at such facilities. The relevant ordinance has been registered with the Russian Ministry of Justice.
For most hazardous facilities, the lower bound of the tariff has been decreased by 50%. The maximum rate remains the same. For some types of facilities, for example, hydraulic structures, the tariff corridor has been expanded by 25%, both upwards and downwards. As a result, this will take better account of the accident risk.
Tariffs for this type of insurance depend on facility types and factors influencing the risk degree.
Preview photo: Dmitry Rogulin/TASS