RUSSIA: the number of complaints against insurance companies decreased by 35% y-o-y in the first half of 2020

11 August 2020 — Marina MAGNAVAL
In 1H2020, the Bank of Russia received only 15 thousand complaints against insurance companies, which is 34.7% less y-o-y. At the same time, the number of MTPL complaints amounted to 12 thousand of the total (-35.2%), the Bank said on its website.

The regulator believes that the decrease of the number of complaints was due to a decrease in economic activity in the country during the period of restrictive measures caused by the coronavirus pandemic.

It's also worth noting that in the first half of 2020, the Bank of Russia received 1.3 thousand complaints related to mis-selling. The main problem here is investment life insurance, which accounts for 51.6% of the total number of complaints about mis-selling, the regulator explained.

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