FEDERAL LAW OF THE RUSSIAN FEDERATION

of November 28, 2015 No. 349-FZ

About introduction of amendments to articles 25 and 26 of the Law of the Russian Federation "About the organization of insurance case in the Russian Federation" and article 15 of the Federal law "About Obligatory Civil Liability Insurance of Owners of Vehicles"

Accepted by the State Duma on November 20, 2015

Approved by the Federation Council on November 25, 2015

Article 1

Bring in the Law of the Russian Federation of November 27, 1992 No. 4015-1 "About the organization of insurance case in the Russian Federation" (Sheets of the Congress of People's Deputies of the Russian Federation and the Supreme Council of the Russian Federation, 1993, No. 2, Art. 56; Russian Federation Code, 1998, No. 1, Art. 4; 1999, No. 47, Art. 5622; 2003, No. 50, Art. 4858; 2005, No. 10, Art. 760; 2007, No. 49, Art. 6048; 2010, No. 17, Art. 1988; No. 49, Art. 6409; 2011, No. 49, Art. 7040; 2013, No. 30, Art. 4067) following changes:

1) in Item 1 of Article 25 of the word "insurance reserves" shall be replaced with words "the created insurance reserves; means of insurance reserves,";

2) in Article 26:

a) state Item 1 in the following edition:

"1. For ensuring obligation fulfillment insurers based on actuarial calculations determine the size of insurance reserves expressed in cash (create insurance reserves) by insurance, joint insurance, reinsurance, mutual insurance and provide them with assets (means of insurance reserves). Means of insurance reserves shall be enough for obligation fulfillment of insurers on implementation of the forthcoming insurance payments for insurance contracts, joint insurances, on reinsurance, mutual insurance and execution of other actions for servicing of the specified obligations.";

b) in paragraph one of Item 2 of the word "based on rules" shall be replaced with words "according to rules";

c) in Item 3 of the word of "insurance bonds" shall be replaced with words "the obligations specified in Item 1 of this Article";

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