Ministry of Finance recommends insurers to revise contracts and insurance rules

7 November 2013, Thursday
Ministry of Finance of Russia in connection with the adoption of comprehensive amendments to the law on insurance business recommends companies to audit contracts and insurance regulations for compliance with the new standards, said the deputy director of the Financial Policy Department Ministry of Finance Vera Balakirev.

Amendments shall enter into force on the bulk in January 2014. They are aimed at, inter alia, to improve the enforcement mechanisms of the insured persons, increasing the responsibility of insurance companies and their transparency.
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