The new bill would make the bankruptcy of the insurer more clear and precise

Today the State Duma will consider on first reading amendments to the Law on Insurance and some other acts that describe the bankruptcy of insurers and other financial institutions and measures to prevent it, the newspaper Vedomosti, now bankrupt financial institutions are regulated by several articles of the Law on Insolvency, "but they are too general. The new bill requires that if a company is bankrupt, first met the requirements of customers on contracts of compulsory insurance and compensation payments, and then - book of life insurance and personal insurance, hereinafter - Customer in property insurance and, finally, the demands of other creditors.