Info-Prod Research (Middle East) - RESOLUTION SETS AUTO-INSURANCE RATES

Prime Minister Mikhail Kasyanov signed a resolution on 12 May
settingrates for mandatory auto-liability insurance, Interfax
reported thesame day. Basic annual premiums will be 1,980 rubles
($64) forindividuals and 2,375 rubles ($77) for companies, withnadjustmentsfor the specifics of the region, driver, and car through a
system ofseven coefficients.

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Insurance will provide maximum coverage
of up to400,000 rubles ($12,900). All Russian drivers will have to
getinsurance by 1 January 2004 or face fines. Insurance
companiesthemselves now need to get licenses as quickly as possible
so thatthey can …

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