When selling electronic compulsory motor third-party liability insurance (CMTPLI) policies, insurers must allow consumers to specify engine power in either kilowatts or horsepower, as indicated in the consumer’s documents. This requirement comes from an information letter issued by the Bank of Russia.
If insurers do not comply with this directive, consumers have the option to file a complaint with the Bank of Russia through its online reception. They can also attach a screenshot as evidence of non-compliance.
The regulator has discovered that some electronic CMTPLI agreement forms on insurers’ websites only permit consumers to specify engine output in horsepower. Consequently, if engine power is expressed in different units, consumers are forced to convert them themselves or abandon purchasing a policy altogether.
“Preview photo: Marina Lystseva / TASS”
