The Bank of Russia has established new rates for compulsory insurance of carriers' third-party liability for damage to passengers (CICL). Effective August 3, the lower bound of the range of insurance rates for intercity bus, tourist water, helicopter, railway, and sea transportation will decrease by 20%.
The relevant ordinance from the Bank of Russia was officially registered by the Ministry of Justice.
Additionally, the document sets CICL rates for taxis. Starting September 1, taxis must insure their liability for personal injury and damage to passengers' property, similar to other carriers (excluding the metro). The price for a CICL policy for taxis, based on the Bank of Russia's rates, will range from ₽1,300 to ₽5,400 per year depending on individual risks.
Preview photo: Jordan Young Preview photography / Shutterstock / Fotodom