Report Says Proposed Regulations And Costly Court Claims Are Heightening Risks For Russia's Motor Insurers Jun 13
- Language: English
- Published: June 2013
- Region: Russia
MOSCOW (Standard & Poor's) Jan. 25, 2012--Demand for insurance has been gradually increasing among Russia's historically underinsured population. However, a rising interest in insurance does not signify improving fortunes for domestic insurers, according to a report just released by Standard & Poor's Ratings Services. The report, titled "Russian Insurers Face High Country Risk Under A Frail Market Framework", says elevated country risk represents the biggest hindrance to the development of Russia's insurance market. The economy's dependence on oil revenues and the state's tight control of the economy do not promote a truly competitive marketplace, it says. It notes, however, that the regulator is working with market participants to foster development of the industry and adds that Russian insurers enjoy fairly...
Action: General Comment
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