INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of September 19, 2014 No. 3385-U

About requirements to the agreement on direct indemnification and procedure of payments between his participants

Based on the Federal Law of April 25, 2002 No. 40-FZ "About obligatory civil liability insurance of owners of vehicles" (The Russian Federation Code, 2002, No. 18, Art. 1720; 2003, No. 26, Art. 2566; 2005, No. 1, Art. 25; No. 30, Art. 3114; 2006, No. 48, Art. 4942; 2007, No. 1, Art. 29; No. 49, Art. 6067; 2008, No. 30, Art. 3616; No. 52, Art. 6236; 2009, No. 1, Art. 17; No. 9, Art. 1045; No. 52, Art. 6420, Art. 6438; 2010, No. 6, Art. 565; No. 17, Art. 1988; 2011, No. 1, Art. 4; No. 7, Art. 901; No. 27, Art. 3881; No. 29, Art. 4291; No. 49, Art. 7040; 2012, No. 25, Art. 3268; No. 31, Art. 4319, Art. 4320; 2013, No. 19, Art. 2331; No. 30, Art. 4084; 2014, No. 30, of the Art. 4224) (further - the Federal Law) this Instruction establishes requirements to the agreement on direct indemnification (further - the Agreement) and to procedure of payments between his participants (members of professional association of insurers and professional association of insurers).

1. Terms of agreement are determined by professional association of insurers for the purpose of repeated application in layout key of the agreement which is subject to approval of the Bank of Russia after its statement of insurers by professional association.

2. The agreement shall contain:

procedure for indemnification by the insurer who insured the civil responsibility of person which did harm (further - the insurer of the causer of harm), to the insurer who performed direct indemnification (further - the insurer of the victim);

procedure for determination of the average amounts of insurance payments;

to compensate obligation of the insurer of the causer of harm to the insurer of the victim the harm to the victim compensated by it on behalf of the insurer of the causer of harm on account of insurance payment for the agreement of compulsory insurance;

to compensate obligation of professional association of insurers to the insurer of the victim the harm to the victim compensated by it on behalf of the insurer of the causer of harm on account of implementation of compensation payment in cases, stipulated in Item the 6th article 14.1 of the Federal Law;

the list of the documents which are subject to registration when implementing direct indemnification, procedure, terms and methods of exchange of the specified documents (including procedure for their registration and storage);

method and terms of sending by the insurer of the causer of harm who was injured to the insurer or in stipulated in Item cases of the 6th article 14.1 of the Federal Law to professional association of insurers of the prior notice containing data on the requirement of the victim, circumstances of damnification in connection with damage of property of the victim as a result of the road accident, the expected amount of payment for direct indemnification (further - the prior notice);

conditions, method and terms of implementation of calculations between agreement parties;

procedure for the dispute resolution between agreement parties;

the insurer liability of the causer of harm for non-realization in compensation time established by the Agreement to the insurer of the victim of the amount of the paid losses (depending on the chosen method of calculations between insurers), or for refusal of the insurer of the causer of harm to perform compensation to the insurer of the victim of the amount of the paid losses;

responsibility of professional association of insurers for non-realization at the scheduled time, or unreasonable refusal to perform to the insurer of the victim compensation payment in cases, stipulated in Item the 6th article 14.1 of the Federal Law;

methods of ensuring obligation fulfillment under the Agreement;

duration of the agreement, procedure for introduction of amendments to the Agreement and basis of its termination.

3. The agreement shall provide that in case of presentation to the victims of the requirement about indemnification caused to its property to the insurer of the victim, the last shall:

in the terms provided by the Agreement, but no more than within seven working days from registration date of the requirement about indemnification caused to property of the victim to send to the insurer of the causer of harm (or in cases, stipulated in Item the 6th article 14.1 of the Federal Law, to professional association of insurers) the prior notice;

in case of decision making about refusal to the victim in direct indemnification to report to the insurer of the causer of harm (or in cases, stipulated in Item the 6th article 14.1 of the Federal Law, to professional association of insurers) about the made decision in the terms provided by the Agreement, but no more than within seven working days from decision date and to send it the copy of the motivated refusal directed to the victim;

after implementation of direct indemnification to provide to the insurer of the causer of harm (or in cases, stipulated in Item the 6th article 14.1 of the Federal Law, to professional association of insurers) according to the procedure and to the terms provided by the Agreement, the requirement about payment of compensated harm, and also the following documents:

copies of the documents confirming the fact of loss occurrence;

copies of the payment documents confirming payment of money to the victim or payment of repair of the damaged property.

4. Calculations between agreement parties for direct indemnification are perfromed in non-cash form. Calculations between agreement parties can be perfromed by the following methods:

by compensation of the amount of the paid losses according to each requirement of the victim;

and (or) by compensation of the average amounts of insurance payments for the accounting period.

For implementation of calculations between agreement parties by compensation of the amount of the paid losses according to each requirement of the victim in the Agreement it shall be determined that the insurer of the causer of harm (or in cases, stipulated in Item the 6th article 14.1 of the Federal Law, professional association of insurers) shall (shall) make compensation of the amount of the paid losses in the amount of payment to the victim in the terms provided by the Agreement, but no more than within 15 working days from receipt date from the insurer of the victim who performed direct indemnification, requirements about payment of compensated harm.

For implementation of payments between agreement parties by compensation of the average amounts of insurance payments for the accounting period with the Agreement such accounting period, and also term shall be established from the moment of its termination during which calculations between agreement parties shall be made.

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