On meeting of Advisory Board on Insurance

The Bank of Russia Advisory Board on Insurance discussed the establishment of the Bureau of Insurance Histories (BIH), a unified information system on voluntary insurance.

Meeting participants considered a draft Bank of Russia Ordinance regulating the establishment and maintenance of the unified information system and remarks to the document by the Russian Association of Motor Insurers (RAMI) acting as a BIH operator.

The insurance interests unanimously supported prompt establishment of the unified information system on certain types of voluntary insurance. Meanwhile, meeting participants mentioned that the procedure for system funding should be stipulated for both RAMI members and non-member companies. The discussion also touched upon the mechanism for receiving and processing personal data of insured and other persons in compliance with personal data laws.

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28.11.2014 00.00.00