OREANDA-NEWS. August 10, 2015. By its Order No. OD-2013, the Bank of Russia suspended the insurance licence of the closed joint-stock company Insurance Company Avangard Polis (registration number in the unified state register of insurance agents 3920).

The decision is taken due to the insurer’s failure to properly meet Bank of Russia instruction, namely failure to present properly certified documents confirming the authorised capital payment. The decision becomes effective the day it is published in the Bank of Russia Bulletin.

The suspension of licence prohibits the insurance agent from entering into new contracts of insurance and introducing amendments resulting in increase in insurance agent’s obligations under the current contracts.

The insurance company must accept notifications of claim and meet its obligations.