ЮГ Times. It is poor competence of the governmental controller and greediness of the insurance companies that have caused today’s lingering crisis in the motor insurance sector.

Yuri Siusin, a human rights activist and car insurance expert, has told The Yug Times that in March Kuban Governor initiated a meeting on the MTPL problem. It was attended by the Central Bank officials, managers of insurance companies, and judicial authorities. The insurers complained that professional ‘car lawyers’ were robbing them, but Mr. Kondratiev noted that it was the insurers who had let the jinee out of the bottle doing all they could to underrate payments under the policies. “Since then, little has changed,” states Mr. Siusin. “The car insurance segment remains in a deep crisis. The main indicator of this crisis is the reduced number of voluntary insurance contracts signed in 2015 and 2016. So the present situation looks stalemate – mainly due to the insurance companies’ greed and lack of responsibility.” Having all reins of power in its hands, the Central Bank threatens to hand over MTPL policies to the state – but it seems to be doing nothing, either. It is clear that the state must put an end to the insurers’ sabotage – maybe, with the help of public activists who may be rewarded with part of the penalties collected from the lawbreakers. If nonetheless the situation would improve within a month or two, a state company must be established for the issuance of mandatory insurance policies as an alternative to private insurers.

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