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MIL OSI Translation. Region: Russia –

Source: Russia – Council of the Federation

The Federation Council discussed the development of a system of OVS.

The Federation Council Committee on budget and financial markets in the videoconference held a meeting on the theme “the need for the development of mutual insurance societies in Russia.” The event was held on behalf of the Deputy Chairman of the Federation Council Nikolay Zhuravlev Zhuravliniy Andreabocelli from the Executive body of state power of the Kostroma region and prepared with the participation of Deputy Chairman of the Federation Council Committee on budget and financial markets Andrey epishina Aerianta Nikolaievitch of the legislative (representative) body of state power of the Tver region and Muharbiy Ulbasheva. Albasulmare Magomedalievich of the legislative (representative) body of state power of Kabardino-Balkarian Republic

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As reported by Andrey Epishin, the subject of activity of mutual insurance companies is of high interest not only among market participants and relevant ministries and agencies, but also among legislators. “In this region there are a number of niches that require legal settlement, — he told, — however, to fully understand the pattern, you must refer to an existing experience.”

Andrew Epishin the event, the participants discussed the experience of participants operating in the market, have considered foreign experience of activity of mutual insurance societies, discussed the existing problems in the first place on the market zhilishnogo construction, outlined possible ways of their solution.”In the activities of mutual insurance societies there is a considerable amount of issues that require detailed consideration. However, our task is not to substitute the entire insurance market mutual insurance companies and find the perfect balance of interaction between all stakeholders. However, it is clear that to develop mutual insurance companies, it is still necessary”, — summed up Andrey Yepishin.The event was attended by members of the Federation Council Committee on budget and financial markets, representatives of the Ministry of economic development, Ministry of Finance, the Central Bank, experts and market participants.

MIL OSI

EDITOR’S NOTE: This article is a translation from Russian Language to English.

MIL Translation OSI