OREANDA-NEWS. September 01, 2014. FAS held a joint session of the Section on Insurance Services Market and the Section on the Market of Banking Services of FAS Expert Council for Protecting Competition on the Market of Financial Services.

The Expert Council discussed the issues of cooperation between credit and insurance organizations, particularly, the need to make changes to the General Exceptions with regard to credit and insurance organizations approved by No.386 Decree of the Government of the Russian Federation of 30.04.2009 to improve the cooperation procedure.

The Expert Council learned the findings of a survey of credit and insurance organizations carried out by FAS to study cooperation between them. Participants also looked into regulating the size of agent remuneration paid by insurance companies to credit organizations cooperating under the programmes of insuring bank borrowers.

Attendees included representatives of the Ministry of Finances, the Bank of Russia, “National Partnership of Micro-Financing Market Participants” Non-Profit Partnership, Russian Banks Association, National Insurers Union, insurance and credit organizations, and independent experts.

Participants supported the importance to improve the General Exceptions.

Discussing other items on the agenda, the Expert Council pointed out at expediency of collecting additional information to analyze the problems exposed on the market in more detail and determine the ways to resolve them.

Summing up the meeting of the Expert Council, participants were asked to forward their opinions and proposals on the raised issues to FAS, while the antimonopoly authority should conduct a survey of credit and insurance organizations.