The Finance Ministry has abandoned the idea of selling insurance policies for 2-3 years

The Ministry of Finance will lobby for the adoption of the legal amendments authorizing sale by owner new car insurance policies with a validity of 2-3 years, said the Deputy head of insurance market Department, Bank of Russia Svetlana Nikitina.

“As far as I know, the Ministry of Finance has refused this idea. Thought twisted from all sides and decided that it is not necessary”, – said Nikitin (quoted by TASS).

Earlier, Deputy Finance Minister Alexei Moiseev stated that the Ministry offers to provide the owners of new cars the possibility to issue the insurance policy for two to three years.

According to him, this change of procedure will allow the owner not to run to the insurance company every year, and the payment policy may be made in installments and in the calculation of prices for each year given the number of accidents (the coefficient “bonus-Malus”).