Showing posts from 2024

How much are overpaying for policies?

Generosity of insurers: how much do people overpay for policies? Services for the sale of policies to insurers themselves cost 241.4 billion rubles in the first nine months of 2019. Banks earned more than others, whose commissions reached 150.5 billion rubles - the same amount as for the whole of 2018. And they were ultimately paid by insurance buyers. Consumers have a choice: they can buy a policy in the office of the insurer, on its website, from an agent or from a bank. The only difference is the price, which is made up of the basic cost of the policy and the commission of the agent selling it. It is higher with banks. For example, an accident policy with a payout in case of death of the insured of 750 thousand rubles can be bought from the insurer for 3.9 thousand rubles, while in the bank it will cost 4.9 thousand rubles. Nevertheless, Russians often buy insurance in banks. First, because banks are trusted by 88% of the population, while insurance companies are trusted by only...

Insurers and fraudsters - the confrontation continues, the formats are changing How are strategies and tactics in the fight against insurance fraud changing? What threats and dangers await insurers and the insurance market in the "digital future"? These and other questions will be answered by Igor Fatyanov, Chairman of the Insurance Fraud Control Committee of the All-Union Insurance Association. How will insurance fraud and abuse of rights in automobile insurance change in connection with the development of information technology? Does digitalization work to the advantage of insurers or fraudsters? Are there examples of "high-tech" fraud that have been detected or prevented? Of course, fraudsters are mastering the digital space. The most common cases (which are now more or less dealt with) are fake websites issuing fake CMTPL policies and the use of Internet sales for fraud. I don't take cyber-risks yet, because they are not so often realized in Russia. On t...

CASCO: Fraud with contracts

CASCO: Fraud with contracts It is not uncommon to encounter situations in which from the insurance company with which an automobile collision insurance contract has been concluded attempts to obtain payment illegally. Let's look at the most common cases. TOP-5 Illegal methods of enrichment in motor hull insurance Unscrupulous policyholders come up with many different ways to outsmart the insurance company and illegally enrich themselves. But for each method of fraud, the insurer has its own countermeasure. Double car insurance Fraudsters use this method when the car is already damaged at the time of insurance. Then they find a car of the same make and color and come to insure it with the documents of the damaged car, hoping that the body and chassis number will not be checked. However, when concluding a car insurance contract, an employee of the insurance company is obliged to check the data of the car recorded in the documents with the actual data. Replacement of a drunk dr...

Procedure of driver's actions in case of accident outside Ukraine 1. Stop the vehicle and stay at the accident site. Do not change the position of the vehicle under any circumstances. 2. Call the police. Obtain a copy of the report or any other document that establishes fault, identifies the participants and the circumstances of the accident (it is advisable to take photos or videos of the vehicles involved in the accident from different angles and of other objects involved in the accident). If none of the accident parties speaks the language of the country where the accident occurred, you should call the Motor Bureau (an organization established to control the activities of insurers) of the country where the accident occurred (phone numbers are on the back of the Green Card policy). 3. If you are required to sign a document If you are required to sign a document in which the fault of the parties involved in the accident is stated in a language that you do not understand, yo...

Accident without insurance - what to do with the victim Sad statistic: About half of the car owners do not consider it necessary to take out an insurance policy. This is despite the fact that the law makes it illegal to drive a vehicle without MTPL insurance. Violating the law seems to be advantageous for drivers: the fine is often less than the cost of insurance. But what should the victim do if the person who caused the accident has no insurance and refuses to pay? Who will pay for the damage? How an insurance policy works If the owner of a car with a formalized MTPL becomes the culprit of the accident, the policy covers payments to the injured party. If the person who caused the accident has no insurance, there will be no one to compensate for the damage. What can you do? However, according to the law, the perpetrator of the accident is still obliged to take responsibility. It is necessary to pay for the repair of the victim's car, a fine for lack of insurance, to compensa...

4 cases when the insurance payment is not enough for repairs Situations when the insurance payment is not enough for repairs are not uncommon. Why does this happen? Is it fair for an insurer to pay less than the cost of repairs? Volodymyr Shevchenko, Director General of MTIBU, spoke about how to avoid such situations and receive the missing funds. Starting from September 21, 2019, the maximum amounts of payments under the contracts of compulsory insurance of civil liability of vehicle owners (CTPCI) have increased by one third and now amount to UAH 130,000 - for damage to "hardware" (car and other property) UAH 260,000 - for damage to life and health. According to MTIBU estimates, only in 1-2% of accidents did property damage exceed the previous limits (UAH 100,000). But in the total amount of payments, such insured events accounted for about 6-7% of the money paid by insurers under the "motor citizen". In other words, we had few victims who were involved ...