Central Bank of Russia widens CMTPLI rate corridors by 11.57% for public transport and 20% for motorcycles and small trucks

The Central Bank of Russia has approved an ordinance revising pricing parameters for compulsory motor third-party liability insurance (CMTPLI), widening the tariff corridors for public transport, motorcycles and trucks up to 16 tonnes from 27 January 2025 while leaving base CMTPLI rates for personal cars unchanged. The corridor will be expanded both upward and downward by 11.57% for trolleybuses, trams and buses and by 20% for motorcycles and trucks with permissible maximum weight up to 16 tonnes, reflecting persistent losses in these vehicle categories, including a higher frequency of RUB 400,000 maximum-damage accidents for small trucks and a 32% increase in damage from motorcycle-caused accidents in recent years. Motorcyclist premium coefficients have been adjusted by age and driving experience and supplemented with a new coefficient based on engine capacity, and insurers must price policies for foreign nationals using the driving record shown in their national driving licences. The ordinance also updates regional local coefficients, lowering them for 21 regions where almost six million conventional policies (excluding short-term contracts) issued in 2024 had average premiums 17.1% above the nationwide figure, and raising them for 18 regions where more than 4.4 million policies had average premiums 31.8% below the Russian average while existing coefficients did not cover higher losses; it also increases the coefficient for multi-driver (unlimited drivers) CMTPLI policies for individuals, which account for less than 2% of such policies.