Draft law proposed by the Bank of Russia represents the amendments, which have been included in the Federal Law "On the mandatory civil liability insurance for the owner of a major hazard installation against any harm caused as the result of an accident at the major hazard installation".
The draft, in particular, includes the requirements on:
- the procedure of the conclusion, modification, prolongation, cancellation (termination) of mandatory insurance contracts;
- the actions of the persons during the realization of the mandatory insurance, including any actions that are to be taken upon the occurrence of an insured event, as well as on the list of the necessary documents, which the policyholder must provide for the insurer;
- the procedure for determining the amount of insurance payout and for the realization of this payout, the list of the necessary documents, including documents containing personal data of the victims.
The coming of this Regulation into force is expected from the date of revocation of Decree N 916 (03.11.2011) of the Government of the Russian Federation "On the approval of the Rules for the mandatory civil liability insurance for the owner of a major hazard installation against any harm caused as the result of an accident at the major hazard installation".