Translation. Region: Russian Federation –
Source: Central Bank of Russia
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Bank of Russia suggests changing Rules for determining repair costs under compulsory motor vehicle liability insurance (OSAGO) taking into account market conditions. When calculating the average cost of a spare part, the prices of similar parts will not be taken into account if they are 70% cheaper than the original (currently, this threshold is 80%). The average cost of consumables will be calculated based on market prices, without any discounts.
As a result of these changes, the average payment under compulsory motor third-party liability insurance is expected to increase by 9%.
It is also planned to fully account for the cost of single-use parts (seals, stickers, and the like) when calculating repair costs. Currently, these are included in the repair cost at a rate not exceeding 2% of the price of the replaced parts, which in some cases does not fully cover the cost of such parts.
The changes are planned to be introduced into the unified methodology for determining repair costs, which insurers use when calculating payments under compulsory motor vehicle liability insurance (OSAGO).
Comments and suggestions regarding the draft directive will be accepted until March 30 inclusive.
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Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.