Uralros’s license suspended

27 April 2009 (14:06)

The Russian Federation Federal Insurance Supervision Service decided to suspend the license issued to Uralros Insurance Company (based in Yekaterinburg with file number № 0599, С № 0599 66). The decree (number 174), signed by the Service’s Head Alexander Koval, has already come into force.

Uralros Insurance Company is one of Union of Russian Car Insurers members that refused to join the direct loss refund system. The company therefore did not pay its membership fees in the third quarter of 2008 and failed to answer any of the Union’s queries. The company thus came to owe the Union 1.11 million RUR. According to the Union’s European Protocol Management Director Andrei Yuriev, the issue of whether this insurer should be expelled from the Union is to be discussed at the annual general meeting on May 22, 2009.

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