The Central Bank of Russia issued a draft ordinance proposing to lower the minimum tariff within the rate range for compulsory insurance of carriers’ third party liability for damage to passengers (CICL) across most transport services, based on its monitoring of CICL rates. The proposed reductions to the lower bound are 30% for intercity and suburban bus services, 20% for charter bus services, and 10% for regular urban bus services. The draft would also cut the lower rate level by 40% for sea transport and suburban rail services, and by 30% for helicopter, trolleybus, water transport, and long-distance rail services, while leaving rates for all other transport services unchanged.
Central Bank of Russia 2025-11-20
Central Bank of Russia proposes up to 40% cuts to compulsory carrier passenger liability insurance rate floors
The Central Bank of Russia proposed a draft ordinance to reduce the minimum tariff for compulsory insurance of carriers’ third-party liability for passenger damage. Reductions include 30% for intercity and suburban buses, 20% for charter buses, and 10% for regular urban buses, with further cuts for sea, suburban rail, helicopter, trolleybus, water transport, and long-distance rail services. Rates for other transport services remain unchanged.