Ingosstrakh Announced Debt of Insurers on Subrogation Claims

OREANDA-NEWS. September 14, 2010. Summing up the results of the first half of 2010, Ingosstrakh once again publishes data on payments and debts on subrogation claims.

Major Russian insurers – Rosgosstrakh, RESO-Garantia OJSIC, Strakhovoy Dom Military Insurance Company OJSC, AlfaStrakhovanie OJSC constantly make payments on the basis of subrogation.

After publication of the Ingosstrakh press-releases dated December 9, 2009, March 5, 2010 and April 5, 2010 on companies failing to timely pay subrogation payments, negotiations and consultations with Itil Insurance company OJSC, First Insurance Company LLC, Spasskiye Vorota Insurance Group CJSC were conducted. Partnership relations and agreements on subrogation claims payments were reached with these insurers within the laws on CMTPL and Russian Association of Motor Insurers Rules. 

Though generally the situation around subrogation claims payments is still unsatisfactory. Significant amount of insurers ignore the lawful claims of Ingosstrakh. Despite the fact that a number of companies started effecting partial payments voluntarily their debts keep increasing which indicates either the internal problems of the company or the principled approach – to minimize voluntary payments. Such companies include MAKS CJSC, Megaruss-D Insurance Company CJSC, Intersectorial Insurance Center OJSC, Region IOJSC, Insurance Company Innogarant LLC, RSTK OJSC which were already mentioned in Ingosstrakh’s press-releases as insurers breaking the order of the provision of insurance payments on subrogation claims stated. So far there have been no qualitative changes in the procedure of Ingosstrakh’s claims review on their part. the saidThe said insurance companies keep failing to meet the insurance payment dates use selective approach and demand the provision of supplementary documents not stipulated by the laws on CMTPL and Russian Association of Motor Insurers professional activity rules.

Companies practically not providing voluntary payments and providing them only after the decision of the court or disciplinary entities of the Russian Association of Motor Insurers should be specially noted. The most unfair companies are West-Akras Insurance Company, Rossiya OJSIC, Rosstrakh OJSC, Sportstrakhovanie Insurance Company LLC, Russian Insurance Traditions Insurance Company CJSC, Garmed Insurance Company OJSC.

In connection with the sizable, and as for some companies – the constantly growing debt, Ingosstrakh is obliged to file thousands of actions We are paying your attention to the fact that on such type of cases the total amount of favorable decisions on debt recovery in the favor of Ingosstrakh is about 98 per cent

The following table provides information on the debts of the insurers failing to make timely payments on subrogation claims.