On suspending licence to perform mediation activity

By its Order No. OD-2217, dated 25 August 2014, the Bank of Russia suspended the licence to perform mediation activity as an insurance broker of the insurance broker Insurance Mediator, limited liability company (registration number in the unified state register of insurance agents 4252).

The decision is taken due to the insurance agent’s avoidance to receive Bank of Russia instructions.

The suspension of licence prohibits the insurance broker from entering into new insurance broker service agreements and introducing amendments resulting in increase in liabilities under the corresponding agreements.

The suspension of licence does not entail the termination of current insurance broker service agreements.

The insurance broker must rectify the revealed violations within 10 days after the Order comes into force.

The reference to the Press Service is mandatory if you intend to use this material.

26.08.2014 00.00.00