The Central Bank informs that two insurance companies have lost their licenses and four brokers have had their licenses frozen
25 August became the day when the Central Bank revoked the license for insurance activity of the corporation “The insurance company ”Transneft”. The join-stock company “D2 Insurance” has also been revoked the license for OSAGO (Obligatory insurance of civil responsibility of car owners). In addition, the Central Bank has frozen the license of four brokers: LLC “INS-Broker “, LLC “Cargo-broker”, LLC “The European insurance broker» and LLC «Palladium insurance broker”. This information is taken from the official report of the Bank of Russia.
The insurance companies “Transneft” and “D2 Insurance” refused to conduct the insurance activities on their own initiative.
According to the regulator, “INS-Broker” and “Palladium Insurance Broker” have avoided getting a prescription for many times.”Cargo-broker” and “European Insurance broker failed to enforce the regulator’s prescriptions at a set time.
“The suspension of a license means the prohibition for the signing of new contracts for the provision of insurance brokerage services as well as introduction of changes, which can result in the increase of liabilities, in the relevant agreements,” informed the Central Bank.