The Central Bank of Russia has revised compulsory third party liability insurance rates for hazardous facility owners, effective 1 November 2026. The changes reduce the lower bounds of rate ranges by 25% to 75%, reflecting accident risk and recent trends in premiums collected and claims payments. Lower bounds fall by 25% for production facilities using pressure equipment, petrochemical and mining enterprises, hydraulic structures and mines. A 50% reduction applies to oil and gas production companies, metals companies, facilities involving explosives and cranes. All remaining hazardous facility categories receive a 75% reduction. Upper bounds rise by 25% only for certain hazardous facilities using pressure equipment and remain unchanged elsewhere. This differs from the September 2025 revision, which left all upper bounds unchanged and maintained the lower bounds for pressure equipment facilities and coal mines.
Central Bank of Russia cuts hazardous facility liability insurance rate floors by up to 75% from November 2026
The Central Bank of Russia has lowered compulsory third party liability insurance rate floors for hazardous facility owners by 25% to 75%, effective 1 November 2026. Upper limits rise by 25% only for certain facilities using pressure equipment. The revisions reflect accident risk and recent premium and claims payment trends.