The Bank of Russia has finalized a draft methodology for determining the costs to repair the damaged vehicle under a contract of insurance.
According to the results of the consultation with participants of the insurance market the document revised the calculation of the cost of suitable residues in the event of total loss of the vehicle. In particular, it makes clear which component parts can be assigned to a suitable residue (e.g., a healthy engine, gearbox and other if they meet certain requirements).
Now the project also identified factors under which the value of wear of components can be reduced. Such factors can be major repairs of the engine or the replacement of the body.
The proposed innovations will allow the expert to provide a more accurate assessment of the damage during the examination, and the victim to obtain fair insurance compensation.
As previously reported by the Bank of Russia, the document contains a new procedure for development and approval of handbooks. Thus, in particular, it is assumed that the reference will be formed for each subject of the Russian Federation and be updated every three months.
Another important innovation — a procedure for determining the magnitude of the loss of commercial value resulting from damage and subsequent repair of the vehicle.
The proposed approaches aimed at improving the transparency of the formation of value reference and the exclusion of ambiguous wording, which had caused a large number of differences in expert and the insurance community.
Suggestions and comments on the draft can be sent to the Bank of Russia to 13 July 2020.
The photo on the thumbs: p|s / Shutterstock / Fotodom