The National Union Of Liability Insurers

On the 27^th of July 2010 Federal Law No 225-FZ "On compulsory general and employers’ liability insurance of an owner of a hazardous object for damages in case of an accident involving the hazardous object” (hereinafter – the Law) was approved in the Russian Federation. One of the provisions of the Law provides for the interaction of insurance organisations in the implementation of compulsory general and employers’ liability insurance of owners of hazardous objects, which is being provided by the professional association of insurers.

The National Union of Liability Insurers (hereinafter - the Union) was established on the 9^th of July 2005 by a number of largest Russian insurance companies and on the 28^th of December 2010, the Union was registered by the Federal Service of Insurance Supervision in the Register of associations of subjects in the insurance business as the only Russian professional association of insurers implementing compulsory general and employers’ liability insurance of owners of hazardous objects.

At the present time the Union consists of 33 largest Russian insurance companies that take up leading positions on the market of compulsory insurance, and one non-profit organisation, All-Russian Insurance Association. Out of 33 insurance organisations, 28 have a status of a full member.

Main objectives of the Union are to ensure interaction of insurers in accordance with the Law, to approve standards and rules of professional activity in the implementation of compulsory insurance, including the implementation of compensation payments to the injured, as well as to control the fulfillment of insurance payments.

In autumn 2010, the Union has identified priority areas, such as the development of rules of professional activity and the creation of a methodological framework for the implementation of compulsory insurance from 2012, in accordance with the provisions of the Law.

As a part of its activity the Union closely cooperates with the state authorities of the Russian Federation, in particular, the Ministry of Finance, the Ministry of Emergency Situations, the Federal Service for Insurance Supervision, the Federal Service for Ecological, Technological and Nuclear Supervision, as well as with professional associations of insurers: All-Russian Insurance Association and Russian Association of Motor Insurers, etc.

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