In our country we cannot imagine driving a car without the obligatory Civil Liability Insurance. Not only will we have problems with a possible inspection by the law enforcement agencies, but God forbid, if an accident happens, we will get a pretty hefty compensation that we may even go to court.
A similar practice for compulsory vehicle insurance exists in a number of other countries. And while insurance is becoming increasingly popular and mandatory around the world, Russia is taking a completely different approach.
The country abolishes the compulsory motor third party liability insurance. The Russian Ministry of Finance proposes that by 2020 all types of mandatory policies be replaced by the so-called imputed, ie legally regulated risks that people will be obliged to insure.
Thus, although the insurance was introduced in the Russian Federation only 10 years ago - on July 1, 2003, it will soon go down in history.
Source: Insmarket.bg