Against the backdrop of a significant reduction in tariffs for compulsory insurance of civil liability of owners of industrial hazardous facilities (OSOPO), the market is waiting for a drop in insurers’ fees by 30-40% and the departure of up to a quarter of players. To revive the market, experts believe, it is necessary to expand insurance coverage or adjust tariffs to maintain the interest of insurers. market participants interviewed by Kommersant believe.
According to Absolute Insurance, fees may fall by about 30%. In RESO-Garantia they talk about 40%. According to AlfaStrakhovanie and the National Union of Liability Insurers (NSSO), the drop may exceed 40%.
Stepan Derevyansky, Deputy General Director of the Soyuz Insurance Brokers, estimates that up to a quarter of companies may leave the segment.
Hazardous production facilities include hydraulic structures, filling stations for liquid motor fuel, as well as elevators, lifting platforms for the disabled, escalators. The Central Bank, with an indication published at the beginning of the week, reduced the lower limit of the tariff by 50% from the second decade of September for most of these objects. For certain types of objects, the tariff corridor has expanded by 25% along the lower and upper borders. The Central Bank did not respond to Kommersant‘s request.
Market participants insist on the social significance of this type of insurance. Aleksey Yanin, Managing Director for Insurance Ratings at Expert RA Agency, notes that OSOPO is aimed at protecting people affected by various accidents and man-made disasters. Tatyana Nikitina, senior director of NRA ratings for financial companies, confirms that over the past five years, 57-64% of payments have been for compensation for harm to life and health. The largest sums insured (up to 100 million rubles) were paid for accidents at coal mines. In other cases, payments are generally limited to 7–10 million rubles.
As Natalya Lunyakova, head of the insurance department for hazardous facilities at Ingosstrakh, clarifies, the frequency of accidents at hazardous facilities is generally low. Moreover, the maximum number of events occurs at small facilities, such as a section of heating pipelines.
Mr. Galushin adds that the premiums for coal mines, although at the highest level for the market, do not correspond to the scale of compensation payments in case of serious incidents when a large number of people suffer. The volume of payments is regulated by regulatory documents, market participants emphasize.
Nevertheless, insurance companies still consider the segment attractive. According to Mr. Derevyansky, there is an understandable flow of insurance premiums due to the fact that all enterprises are required to insure and the level of policy renewal is high. He refers to the negative factors as regular reduction of tariffs. In addition, Marina Zyuganova, managing director for property types of insurance at Renaissance Insurance, notes that the number of objects remains approximately the same every year. Aleksey Khutoryansky, an increase in premiums for insurance of especially dangerous objects can occur only if a decision is made to increase the sums insured for individual objects and limits for one victim. Yevgeny Sharapov, director of ratings of insurance companies of the NKR agency, adds that a revision of the volume of insurance coverage, for example, the inclusion of environmental damage in it, could also contribute to this.