What you need to know the consumer to conclude contracts voluntary insurance

Bank of Russia has introduced a "cooling period" - a period during which the citizen will be able to terminate the contract of voluntary insurance and get in a certain order the insurance premium paid. This is provided for Bank of Russia Instruction (N3854-U of 20.11.2015) "On the minimum (standard) requirements, conditions and procedures of the individual types of voluntary insurance."
"Cooling period" of at least 5 days (the insurer can establish and longer) and is counted from the date of conclusion of the contract of voluntary insurance, regardless of the time of payment of the insurance premium.
In order to terminate the insurance contract citizen must apply to the insurance company. Upon cancellation of the insurance in the "cooling period" insurance company is obliged to return the money paid for the policy in its entirety, if the insurance contract has not entered into force. If the agreement started to operate, the insurer is entitled to withhold refunds part of the premium which is proportional to the number of days that have passed since the beginning of the contract.
The new rules apply to almost all popular types of insurance. This list includes life insurance, accident insurance, motor hull, liability of car owners and owners of water transport, LCA, civil liability to third parties, as well as the insurance of financial risks.
The need for the introduction of "cooling-off period" is associated with the current practice of imposing negative individuals of voluntary insurance contracts, the conclusion of which they are not interested, including the receipt of insurance or banking services.
The problem of the imposition of insurance products has become particularly relevant a few years ago during the boom in consumer lending. Often when you make a loan citizens are not even aware that simultaneously receive and insurance service. The big package of documents was not easy to understand, and the cost of insurance is included in the loan amount. In other cases, the purchase of insurance services becomes mandatory condition of the loan agreement.
No less urgent situation in the market of compulsory motor liability insurance. In many parts of the country's car owners could buy liability insurance policy tool only with the additional burden in the form of accident insurance, property insurance, etc.
The efforts of the Bank of Russia to stabilize the market CTP and Consumer Protection made it possible to somewhat reduce tensions.
The law prohibits conditional on receipt of certain services compulsory acquisition of others, and for the imposition of additional services at the conclusion of MTPL contract provides for administrative responsibility. However, to prove the fact of imposing quite difficult.
The introduction of "cooling-off period" will allow consumers to abandon the imposed or unprofitable insurance services without a specific permission or passing a special administrative or judicial procedure.
The complaint may be submitted in writing by sending it to: approx. Sokolova, 22a, Rostov-on-Don, 344006, or electronically via the Internet receiving the Bank of Russia at www.cbr.ru.