Russia: Prices for Green Card policies are increasing by about 9%
As of October 15th, the Motor Insurers' Union in Russia announced an increase of about 9% of tariffs for international Green Card policies. Prices for Green Card policies are reviewed quarterly and are reported to the exchange rate EUR/RUB, according to Forinsurer portal.
Therefore, the price of a policy valid for 15 days will reach RUB 1550.0 (EUR 36.2) and RUB 14,050.0 (EUR 328.0) for one year.
International Green Card System was created in 1951, and was joined by 45 countries across Europe, and also by countries such as Israel, Morocco, Tunisia, Iran etc. Entry of vehicles on the territory of the member states of this system without MTPL policy is prohibited. Russia became a member of the International Green Card System from January 1st, 2009.
According to the Motor Insurers' Union in Russia, underwritings of insurance companies on the Green Card policy, in 2011, will amount to RUB 65.0 million (EUR 1.5 million).
As of October 15th, the Motor Insurers' Union in Russia announced an increase of about 9% of tariffs for international Green Card policies. Prices for Green Card policies are reviewed quarterly and are reported to the exchange rate EUR/RUB, according to Forinsurer portal.