OREANDA-NEWS. July 21, 2015. By its Order No. OD-1691, the Bank of Russia suspended the licence to carry out insurance broker activity of Gradient Insurance Broker, limited liability company (registration No. 4074 in the unified state register of insurance agents).

This decision is taken due to the avoidance of Gradient Insurance Broker, limited liability company, to receive Bank of Russia instruction issued due to the insurer’s failure to timely submit data to the Bank of Russia on the replacement of its CEO and his compliance with qualification requirements and on changes in the company’s members.

The decision becomes effective from the day it is published in the Bank of Russia Bulletin.

Suspended licence of the insurance agent shall mean a prohibition on entering into new insurance contracts to render services as an insurance broker as well as on amending respective contracts resulting in increase in the existing obligations of the insurance agent.

The insurance agent should eliminate the revealed violations within 5 calendar days from the date the Order becomes effective.