OREANDA-NEWS. By its Order No. OD-3230, dated 19 November 2015, the Bank of Russia suspended the mutual insurance licence of the non-profit organisation Mutual Insurance Company VZAIMNAYA ZASHCHITA (registration number in the unified state register of insurance agents is 4285).

The decision is taken due to the insurer's failure to timely execute a Bank of Russia instruction and becomes effective the day it is published in the Bank of Russia Bulletin.

Suspended licence shall mean a prohibition on entering into new insurance contracts and also on amending respective contracts resulting in increase in the existing obligations.

The insurance agent shall accept applications on the occurrence of insured events and perform obligations.