Russian Automobile Insurers Association has updated its components and service prices catalogue

Russian Automobile Insurers Association has updated its components and service prices catalogue

Kommersant – Russian Automobile Insurers Association (RSA) has re-calculated the average component and equipment prices and the hourly unit rates on car services. Accordingly, the component and equipment prices have increased by 19% and 28% respectively, year-on-year. The insurers will apply the updated rates on accidents occurring after 1 May.

Russian automobile insurers had formed a source of reference for the determination of component prices and service rates as of 01.12.2014 and made it accessible on the internet. The source, which is also recognised by the Russian courts, aims to solve the problems between the car owners and insurance companies.

However, some of the law firms representing car owners are of the opinion that the source of reference does not reflect the situation in the market fully. Accordingly, the increase rate in component prices is over 18%.