OSAGO tariffs can grow by a quarter

The basic rates of OSAGO tariffs can grow by 18.9-23.6 percent, Kommersant reports with reference to the materials to the closed meeting on improving the regulation of the insurance market, which will be held by the first deputy prime minister Igor Shuvalov.

The State Duma last spring adopted in the first reading a bill with amendments to the Law on OSAGO, which involve an increase in payments. According to the Ministry of Finance, the entry into force of these amendments will require an increase in tariffs by about 25 percent, and the Russian Union of Auto Stores (RSA), relying on the calculations of actuals, initially noted that tariffs should be increased by 40 percent.

In late March, experts from Towers Watson prepared a study on tariffs on tariffs by order of Bank of Russia.

The cost of OSAGO insurance is calculated by multiplying the basic tariff by a number of correctional coefficients. They are designed to align unprofitability in various groups of drivers, territories and vehicles. Since the entry into force of the law on OSAGO in mid -2003, the coefficients were adjusted twice - in 2009 and in 2011. The basic tariff for OSAGO has never changed.