The Regulation providing for the expansion of the base MTPL tariffs by 20% up and down was approved by the Bank of Russia, ASN reported. The new tariff corridor will be within RUB 2,746 - 4,942 (instead of the existing RUB 3,432 - 4,118).

Besides, the Regulation is introducing a more flexible system of age-experience ratio with detailed gradation (58 levels instead of 4). According to new calculations this ratio will be much less for experienced drivers of senior age and much higher - for unexperienced young drivers (for example, the highest ratio will be equal to 1.87, and the lowest one with the lowest risk level will be equal to 0.93), that will make the approach to MTPL policy cost more individual, as the Bank of Russia believes.

Bonus-malus rate will be assigned to drivers once a year on April 1 and will not be revised during a year. Such a new approach here will reduce frequency of mistakes and the risk of abusive usage of this rate, according to the Bank of Russia.

*EUR 1 = RUB 75.3874 (04.12.2018)