The Ministry of Finance has prepared a set of amendments to the current law on CTP for consideration during the spring session (a copy of the draft amendments is at the RBC). In particular, the Agency proposes to change the pricing in insurance, to divide the policies into three types, depending on the size of insurance premiums and to impose penalties for insurers for late payments.
The authors of the amendments propose to change the existing system of tariffs, which, in their opinion, does not allow insurers to make the client a discount “taking into account personal characteristics, qualification requirements and driving style”. Now insurance companies set prices within the boundaries of the tariff corridor set by the Central Bank for each region. Therefore, the Ministry of Finance proposes to delete the paragraph on the territorial factor and stop to take into account when calculating the tariff technical characteristics of the car (engine power).
The Agency is ready to offer the insurers to determine the pricing of the CTP, in particular the coefficients of insurance tariffs. In the calculation they will need to consider the characteristics of the insured and authorized to operate a vehicle individuals subject to driving, whether they have repeated administrative or criminal penalties for gross violations of traffic rules.
In the same block, the Agency proposes to change the system of discounts for accident-free driving, which will now need to consider the driving history of each driver: the availability and amount of insurance payments in a traffic accident occurred on the fault of each driver (for all vehicles under its control), as well as all the contracts of obligatory insurance, including restricting the numbers admitted to driving the vehicle.
Simultaneously, the project provides for separation of insurance policies into three types, depending on the size of the insurance amounts. As a result, the client of the insurance company, in addition to the existing compensation (400 thousand rubles for the damage caused to the property, and 500 thousand rubles for the harm caused to the life or health of the victim) may choose to be reimbursed for the property and health of 1 million or 2 million rubles. As explained in the document, the insurance payment under the contract of insurance is increasingly not enough for full compensation of harm, caused to life, health and property of victims in the accident. This leads to “dissatisfaction of consumers of the services of insurers on compulsory insurance”.
The Finance Ministry also proposes to introduce for insurers penalties for late payments. The penalty will be in the amount of 200 rubles. for each day of delay. Thus, according to the draft amendments, the maximum size of the fine is limited to the amount of 10 thousand rubles.
The relevance of these significant changes, the authors of the amendments explain that the current model of the regulation of insurance has shown its low efficiency, resulting in high loss of this type of insurance. The cost of parts and repairs of cars is growing at a faster pace compared to the increase in the average size of the insurance payment. In this case insurance compensation for CTP is increasingly not enough for full compensation of harm, caused to life, health and property.
According to the Russian Union of insurers (VSS), in September, the expenses of insurers in one settled insurance case has reached a record level of 78.6 thousand RUB compared to the same period last year the figure increased by 38.3%. The average premium on insurance contracts in September was 6.14 million RUB, an increase compared with last year increased by only 2%.
Experts surveyed by RBC, believe that the amendments will not be effective in the current environment. Director of underwriting and product management of the insurance company “Consent” Dmitry Kuznetsov believes that the change in the approach to charging will require detailed and long calculations.
The current tariff system consists of the base rate and step-up and step-down factors, including whether the power of the car. “If we remove one coefficient, we have the whole model is changing, it’s another must now be considered. We must understand that if we cancel the factor of capacity, formally had to change the base rate,” — said Kuznetsov.
According to experts, the detailed calculations are needed and the introduction of penalties for late payments. So, if you enter the coefficients for the fines, you need to understand how to count them, as they must affect the statistics.
Market participants noted that there are risks of abuse of rights and the growth of fraud as a result of innovations. According to the managing Director for insurance ratings Agency RAEX (Expert RA) Alexei Ioannina, the risks of abuse can be associated not with getting penalties for overdue settlement, and with the desire avtoyuristov in court to demand payment at an attractive insurance policies with extended limits of 1 million and 2 million rubles.
According to the President of the Russian Union of motor insurers (RAMI) Igor Jurgens, the urgent need for these changes. Currently, the insurance community priority natural amendments on compensation insurance, i.e. the replacement payments to repair the damaged vehicle, he said.