Russian insurance companies to fight scams

Russia’s largest insurance companies have signed an agreement on counteracting unfair insurance brokers and creating a black list of brokers found to have scammed consumers, reports Kommersant.

Joining Rosgosstrakh were other insurance giants ROSNO, RESO-Garantia, Alfa Strakhovanie and Ingosstrakh. According to the document, the insurers will not work with brokers who failed to comply with obligations to the company that was part of the agreement.

Rosgosstrakh Group head, Danil Khachaturov said that losses from insurance scams cost his company between 130-150 million Roubles.

“Other members of the agreement may have seen approximately the figures or even more.”

He added that the participants of the agreement are intending to publish “black lists” of dishonest brokers.

Kommersant reported that in March the Russian Union of Consumer Protection received multiple complaints about purchasing fake policies from insurance brokers.