From January 27, 2025, changes will be implemented in the compulsory motor third-party liability insurance (CMTPLI) rates for certain vehicles. The Bank of Russia has approved an ordinance to expand the rate corridor both upwards and downwards by 11.57% for public transport vehicles such as trolleybuses, trams, and buses, and by 20% for motorcycles and trucks with a permissible maximum weight of up to 16 tonnes. The base CMTPLI rates for personal cars remain unchanged.
The expansion of the rate corridor is due to the high unprofitability of CMTPLI for these vehicle types. Small truck drivers are noted to cause road accidents with damages reaching ₽400,000 more frequently than other road users. Additionally, damage from accidents caused by motorcyclists has increased by 32% in recent years. To address this, the regulator has adjusted insurance premium coefficients based on age and experience and introduced a new coefficient dependent on a vehicle’s engine capacity.
Furthermore, insurers are now required to calculate CMTPLI policy amounts for foreign nationals based on their driving records as indicated in their national driving licenses.
The Bank of Russia has also revised local coefficients (LCs), which influence insurance policy prices across various regions. LCs have been reduced in 21 regions where nearly six million conventional policies were issued in 2024 at an average amount that was 17.1% higher than the nationwide figure. Conversely, LCs have been raised in 18 regions where existing LCs do not cover higher losses; here, over 4.4 million conventional CMTPLI policies were issued with average contract amounts being 31.8% below the Russian average value.
There is also an increase in the coefficient for multi-driver CMTPLI insurance policies intended for individuals—contracts without limits on the number of people allowed to drive the insured car—which make up less than 2% of all individual CMTPLI policies issued.
Preliminary data indicates that conventional CMTPLI policy issuance rose by 5.5% year-on-year to reach a total of 43.7 million in 2024, while their average contract amount decreased by 2.5% to ₽7,600.