DPR Central Bank to monitor and control vehicle insurance policy

Donetsk, Jul 5 – DAN. The DPR People’s Council has endorsed a law to provide the Central Republican Bank with control functions in the sphere of vehicle insurance.

Earlier the DPR parliament has voted the law on the minimum compulsory vehicle insurance OSAGO.

The head of the parliamentary committee on budget, finance and economic policy Alexander Khryakov said that the new law is “a compromise between all regulations on civil relationships such as vehicle owner civil liability. After deliberation, we have assigned monitoring and insurance regulation functions to the Central Republican Bank”.

The Bank has to develop a list of required regulations to facilitate the implementation of the law minimum compulsory vehicle insurance.*ot