Popular Posts
Car insurance for young drivers - the key facts
Car insurance for young drivers – the key facts Young drivers’ car insurance is likely to be very expensive and as a new driver it’s good to know about different coverage levels and what affects how much you pay. Here you can find out everything you need to know about new driver car insurance, how to get the best deal and reduce your premiums. Young driver insurance tips So you’ve passed your test, you’ve chosen a car, and now all you need is insurance! If you’re driving without car insurance then you’re breaking the law. You could have your vehicle confiscated, be issued a penalty fine, and have to pay to have your car released. What’s more, if you’re uninsured and have an accident, you’ll be liable for the cost of everyone else’s injuries, their damages, compensation and repairs, even if the accident wasn’t your fault. You will lose your licence and may lose your job because of this. So whilst your car insurance may seem expensive to begin with, it’s nothing com...
Read more…
Complaints of car owners against insurers and what MTIBU does
Why car owners complain about insurers and what MTIBU does How well do MTPL insurers fulfill their obligations, to whom can you complain about them, and will these complaints make a difference? These are the questions that car owners face when choosing an insurer and in case of problems with payments. Volodymyr Shevchenko, Director General of MTIBU, helped us to understand these topics. How to assess the quality of work and reliability of the insurer The MTIBU website publishes a quarterly traffic light graphic. Using a simple color display, it shows an integrated assessment of each insurer based on three main indicators: "overall performance assessment", "quality of settlement", and "level of complaints". The MTIBU also prepares detailed information on the performance of each MTPL insurer on a quarterly basis (number of contracts, amount of premiums, number and amount of claims, average payment period, number and level of complaints, etc.) This data...
Read more…
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...
Read more…
Insurers and fraudsters - the confrontation continues
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...
Read more…
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...
Read more…
