On suspending insurance broker licence

By its Order No. OD-1535, dated 2 July 2015, the Bank of Russia suspended the insurance broker licence of Insurance Broker Vash Vybor, limited liability company (registration number in the unified state register of insurance agents 4193).

This decision is taken due to the avoidance of the insurance broker to receive a Bank of Russia instruction issued as a result of the company’s failure to submit data on insurance brokerage (Form No. 1—broker) for 2014 in the original hard copy and as a set of electronic files via e-mail. The decision becomes effective the day it is published in the Bank of Russia Bulletin.

Suspended licence of the insurance agent shall mean a prohibition on entering into new insurance broker contracts and on amending respective contracts resulting in increase in existing obligations.

The insurance agent shall remedy the identified violations within 5 calendar days since the order becomes effective.

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02.07.2015 00.00.00