INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of December 19, 2016 No. 4234-U

About insurance rates, structure of insurance rates, including the extreme amount of assignments for financing of compensation payments, procedure for application of insurance rates by insurers in case of determination of insurance premium under the agreement of obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object

This Instruction based on article 7 of the Federal Law of July 27, 2010 No. 225-FZ "About obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object" (The Russian Federation Code, 2010, No. 31, Art. 4194; 2011, No. 43, Art. 5971; 2013, No. 9, Art. 874; No. 30, Art. 4084; No. 52, Art. 7010; 2014, No. 45, Art. 6154; 2016, No. 11, Art. 1483; No. 22, of the Art. 3094) (further - the Federal Law of July 27, 2010 No. 225-FZ) establishes insurance rates, structure of insurance rates, including the extreme amount of assignments for financing of compensation payments, procedure for application of insurance rates by insurers in case of determination of insurance premium under the agreement of obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object.

1. For the purpose of calculation of insurance premium according to part 1 of article 7 of the Federal Law of July 27, 2010 No. 225-FZ the insurer determines the size of insurance rate by the agreement of compulsory insurance on the following formula:

                               T=TB*KBM*KUB,

where:

T - insurance rate;

TB - base rate of insurance rate (appendix 1 to this Instruction);

KBM - the coefficient to base rates of insurance rates established depending on absence or availability of the insured events which occurred during operation of the prior agreement of compulsory insurance;

CUBE - the coefficient to base rates of insurance rates established proceeding from the level of safety of dangerous object.

2. The coefficient to base rates of insurance rates reflecting absence or availability of insured events is established equal to unit for the period till December 31, 2018 inclusive.

3. The structure of insurance rates, including the extreme amount of assignments for financing of compensation payments, is given in appendix 2 to this Instruction.

4. This Instruction becomes effective after 10 days after day of its official publication.

5. From the date of entry into force of this Instruction to declare invalid the Instruction of the Bank of Russia of July 23, 2015 No. 3739-U "About insurance rates, structure of insurance rates and procedure for their application by insurers when calculating insurance premium for obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object", registered by the Ministry of Justice of the Russian Federation on August 10, 2015 No. 38441 ("the Bulletin of the Bank of Russia" of August 19, 2015 No. 68).

Appendix 1

to the Instruction of the Central bank of the Russian Federation of December 19, 2016 No. 4234-U "About insurance rates, structure of insurance rates, including the extreme amount of assignments for financing of compensation payments, procedure for application of insurance rates by insurers in case of determination of insurance premium under the agreement of obligatory civil liability insurance of the owner of dangerous object for damnification as a result of accident on dangerous object"

Base rates of insurance rates

1. Base rates of insurance rates for standard types of dangerous objects.

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