Vladimir Putin signed a law extending the compulsory motor third party liability insurance in Russia to Belarus.
This means that the MTPL policy will be valid on the territory of the republic from January 1 next year.
The document signed by the President of the Russian Federation is posted on the website of the official publication of legal acts.
Innovations
It states that the innovation is aimed at creating a unified system of compulsory civil liability insurance for vehicle owners in the Union State.
The document is also aimed at ensuring legal regulation of relations in the insurance sector within the framework of international systems.
The law grants the right to conclude contracts only to insurers with a permanent location in Russia or Belarus, the countries where the car was registered.
In addition, the new provisions ensure the automation of insurance processes in this area.
The law also specifies the functions and powers of the professional association of insurers and the operator of the automated information system (AIS) of insurance.
In particular, the association of insurers will distribute among its members not only insurance policy numbers, but also insurance contract numbers.
Data exchange
JSC NSIS, the AIS insurance operator, will exchange information in real time with law enforcement agencies, customs officials, and professional associations of insurers, including foreign ones.
That is, they will exchange personal data, information about concluded contracts and payments under the insurance system.
Such an exchange is justified by the need to carry out more effective verification of the facts of the conclusion of contracts.
In addition, it should help in the fight against insurance fraud when crossing the Russian border.
The law will come into force on January 1, 2025.
For reference
OSAGO (compulsory motor third party liability insurance) is a type of liability insurance in which the object of insurance is the property interests associated with the risk of civil liability of the owner of a vehicle for obligations arising as a result of harm to the life, health or property of victims when using the vehicle.
