A model legislative act "On the system of compulsory insurance of civil liability of owners of vehicles of the Union State" is planned to be adopted at the next session of the Parliamentary Assembly of the Union of Belarus and Russia, BELTA writes with reference to the representative of the Secretariat of the Parliamentary Assembly Aleksey ERSHOV.

The developers of the project included regulators of the insurance market (the Ministry of Finance of Belarus and the Central Bank of Russia), as well as associations of motor insurers of the two countries and scientists. "This will be the first model legislative act, it is planned for consideration at the next session of the Parliamentary Assembly," ERSHOV explained.

"The system being introduced complements the existing systems: border insurance policy, green card, etc. Now, in addition to these systems, a new opportunity is being created. A single policy will be beneficial for those who are engaged in road transport and constantly travel through the territory of Belarus and Russia, it will also be in demand by citizens who often travel between the two countries", added Aleksey ERSHOV. He also specified that this legislative act could be extended in the future to all states of the Eurasian Economic Union.