Opportunities In RussiaNot Nyet Russia Correspondent
Moscow
When the Soviet Union ended in 1991, Russian citizens were not only free of state supervision of every aspect of their lives, they were no longer insured, in the conventional sense of that term, against lifes many risks. In a flash, Russians were transformed from the most protected to the least insured people in Europe.
Bridging that gap has been the task of the infant Russian insurance industry for just over a decade. Most Russian consumers still have not insured their homes, their moveable property, their health or their lives. Most small to mid-sized Russian corporations avoid insurance unless they are compelled by law.
Still, on July 1, the industry took a big leap into compulsory third-party motorists liability insurance (TPL) for the more than 30 million autos Russians drive. However, there are indications that the transition into a U.S.-type insurance market may be a bumpy one.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
