CLIENT SUPPORT CENTER POLICY WORDING AND TARIFF RATES
CTPL license revoke
The Bank of Russia, Order # OD - 2327 of 07.21.2016, revoked the license to conduct compulsory third party liability insurance of motor vehicle owners of AIG, CJSC. This decision was made in connection with a voluntary waiver of the Subject of insurance business (AIG, CJSC) from conducting the activities under the license, and shall enter into force on the day of its publication in the "Bulletin of the Bank of Russia", i.e. July 22, 2016.
After careful consideration and an in-depth review, we have decided to continue writing Commercial insurance in Russia but no longer write Consumer insurance in this market. This mainly covers motor, accident and health, travel and personal property policies. The sales stop as of October 1, 2014.
Our decision was based purely on the assessment of the current and future potential of the insurance market in Russia in line with AIG’s operational and investment requirements.
AIG is a financially strong insurer and we remain committed to providing and developing Commercial insurance in the Russian market. Our existing Consumer clients will continue to receive full policy and claims support for the remaining period of their policy, as we are committed to providing all of our clients with a high level of service.
We understand that this change will have an impact, and so we will assist you through this transition as best as possible. For any questions that you may have going forward, please contact our central office on +7 (495) 935 8950 or your dedicated broker/agent.