OREANDA-NEWS  The fees of Russian insurers for casco in 2022 increased by 7.6% compared to a year earlier, to 222.8 billion rubles against the background of an increase in the number of contracts, follows from the "Review of key indicators of insurers" of the Bank of Russia.

"The growth rate of car insurance fees in 2022, on the contrary, slowed down to 7.6% year–on-year… The volume of contributions amounted to 222.8 billion rubles. The growth of the market was facilitated by the expansion of the customer base at the expense of both retail and corporate clients. At the same time, the increase in the number of contracts concluded occurred despite a decrease in sales of new cars," the Central Bank's review indicates.

"Such dynamics was associated with the growth of sales of inexpensive mini-casco programs (the risks of such programs are limited, and most often you can apply for payment or repair only if the driver is not the culprit of the accident). Car owners began to fear a shortage of insurance compensation for CTP in terms of rising prices of spare parts. Their desire to protect themselves from such risks contributed to an increase in demand for truncated car insurance programs," explains the same place.