Advanced Search

Amending Articles 22 And 33 Of The Federal Law "on Compulsory Insurance Of Civil Liability Of Vehicle Owners"

Original Language Title: О внесении изменений в статьи 22 и 33 Федерального закона "Об обязательном страховании гражданской ответственности владельцев транспортных средств"

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
RUSSIAN FEDERATION FEDERAL LAW amending Articles 22 and 33 of the Federal Act The Mandatory Liability Insurance " Adopted by the State Duma on February 11, 2009 Approved by the Federation Council on 20 February 2009 Article 1 Article 1 Amend federal law dated 25 April 2002 OF THE PRESIDENT OF THE RUSSIAN FEDERATION 1720; 2005, N 30, est. 3114; 2007, N 49, sect. The following modifications: 1) Article 22, paragraph 2, should read: " 2. In the case of compulsory insurance, the difference between the income and expenditure of the insurer for the first quarter, the six months, nine months, the calendar year (the reporting period) is greater than 5 per cent of the reported income, the amount exceeded is sent by the insurer to establish an insurance reserve to cover the costs of the insurance payments and direct damages in subsequent periods (a stabilization reserve for compulsory insurance) until the reserve is reached 10 per cent of the size of the insurance reserve, but Undeclared damages by the insurer for compulsory insurance payments (reserve but unclaimed losses on compulsory insurance) at the end of the reporting period. "; 2) Article 33 to supplement paragraphs 5 to 7 as follows: " 5. Between 1 January 2010 and 31 December 2012, in the case of compulsory insurance, the difference between the income and expenditure of the insurer over the reporting period exceeds 5 per cent of the reported income, the excess amount is sent by the insurer to establish a stabilization reserve for compulsory insurance until the reserve has reached the limit value, calculated as the amount of 10 per cent of the size of the reserve but not claimed for loss compulsory insurance at the end of the reporting period and positive difference between The amount of the stabilization reserve for mandatory insurance as at 31 December 2009 and 10 per cent of the amount of the reserve for which occurred but unclaimed losses on compulsory insurance as at 31 December 2009 multiplied by The number of remaining quarters by 31 December 2012 and divided by 12. 6. In the event of an excess of the mandatory insurance reserve size, which was established on 31 March 2010 and subsequent reporting periods up to 31 December 2012, above the limit of the insurer referred to in paragraph 5 of this article results in the size of the stabilization reserve in accordance with the above limit. 7. If the mandatory insurance stabilisation reserve is higher than 10 per cent of the amount of the unclaimed loss on compulsory insurance as at 31 December 2012, as referred to in article 22, paragraph 2, of this Federal Act, The insurer reproduces its size in accordance with the specified amount. ". Article 2 This Federal Law shall enter into force on 1 January 2010. President of the Russian Federation Dmitry Medvedev Moscow, Kremlin February 28, 2009 N 30-FZ