Federal Service for Insurance Supervision peretryahnet insurers

The Federal Service for Insurance Supervision (FSIS) plans to assess the reasonableness of the tariff policy and the insurance rates of insurance companies by type of insurance, for which the insurance company received a license, according to a newsletter service, published on its website. In accordance with the law "On organization of insurance business in the Russian Federation estimates of insurance rates and their validity has a direct impact on the solvency and financial stability of insurance companies. What to check during the test to be evaluated the following aspects of the tariff policy of insurance institutions: the respective base insurance rates and adjustment factors used in insurance contracts under the appropriate type of insurance, the basic insurance rates and the correction factor shown in the insurance supervisory authority (in order of licensing or in the order of notice); reliability of statistical data presented in the insurance supervisory authority as a justification for the calculation of insurance rates, according the actual costs of the proceedings largest expenditure in the structure of the tariff rate, the validity of the correction factors applied by the insurance company, the impact of the tariff policy of insurance organizations fulfillment of the requirements for its financial stability and solvency. LICENSE regulator draws the attention of insurance companies that for obtaining a license for free and (or) compulsory insurance license applicant shall submit to the insurance supervisory authority calculation of insurance rates with the application method used actuarial calculations, and indicating the source of the original data, as well as the tariff structure. Insurance rules, estimates of insurance rates, methods of actuarial calculations, the source of the original data and the structure of tariff rates provided in the insurance supervisory authority in the order notice, are not subject to mandatory evaluation of Insurance Supervisors on compliance with the legislation of the Russian Federation. At the same time, in order to monitor the provision of insurance companies of their financial stability and solvency of the safeguards which are commercially reasonable insurance rates, the insurance supervisory authority may request the insurance company information confirming the validity of the calculation of insurance rates (raw data used in calculating insurance rates, the grounds and procedure for applying correction factors, etc.). The insurance supervisory authority may issue regulations in the case of the insurance activities of the organization in violation of the conditions established for the issuance of licenses, including in the case of insurance company insurance rates are not shown in the relevant insurance supervisory authority in licensing or in the order of notice, as well as Failure by the insurance organization established requirements to ensure financial stability and solvency. FSIS encourages insurance companies to verify compliance with the tariff policy requirements of current legislation and adopt measures to eliminate violations. Portal Bank.ru Materials Rihanna.