OREANDA-NEWS. July 14, 2008. The law was violated by entering into agreements, leading to:

- Fixed rates for insurance services;

- Credit conditions imposed upon the loan recipients that are not relevant to the scope of an agreement; and

- Economically and technologically ungrounded refusal by "ROSBANK" Joint-Stock Commercial Bank OJSC to enter into agreements with other insurance organizations and loan recipients, reported the press-centre of FAS Russia.

The agreements in question were concluded with the following insurance companies:

"Soglasie" Insurance Company" Ltd.,

"Rosno" OJSC,

"VSK" OJSC,

"Yugoria" State Insurance Company" OJSC,

"Neftepolis" Insurance Company" Ltd.,

"Ingosstrakh" Open Joint-Stock Insurance Company,

"Maks" CJSC,

"Zurich.Retail" Insurance Company" Ltd.,

"Surgutneftegaz" Insurance Association" Ltd.,

"Rosstrakh" OJSC,

"Standart-Reserve" Closed Joint-Stock Insurance Company,

"NSG-Rosenergo" Ltd.,

"GUTA-Strakhovanie" CJSC,

"Spasskie Vorota" Insurance Group" CJSC,

"SOYUZ" Insurance Company" OJSC,

"Energogarant" Joint-Stock Insurance Company" OJSC,

"Moscow Insurance Company" OJSC,

"Rossia" OJSC

"AlphaStrakhovaniе" OJSC,

"DalZHASO" OJSC,

"Insurance Company for the Gas Industry (SOGAZ) OJSC,

"Uralsib" Insurance Group" CJSC,

"Dalstar" Insurance Company" Ltd.,

"Progress-Garant" Insurance Company" OJSC,

"AIG Life" Insurance Company" CJSC,

"RESO-Garantia" Open Joint-Stock Insurance Company,

"Rosgosstrakh - Accord" Ltd.,

"Rosgosstrakh - Dalniy Vostok" Ltd.,

"Rosgosstrakh -Povozhie" Ltd.,

"Rosgosstrakh - Severo-Zapad" Ltd.,

" osgosstrakh -Sibir" Ltd.,

"Rosgosstrakh -Stolitsa" Ltd.,

"Rosgosstrakh -Tatarstan" Ltd.,

"Rosgosstrakh -Ural" Ltd.,

"Rosgosstrakh -Centre" Ltd., and

"Rosgosstrakh -Yug" Ltd.
 
Co-operation Agreements between "ROSBANK" Joint-Stock Commercial Bank OJSC and 10 subsidiaries of "Rosgosstrakh" OJSC, "Military-Insurance Company" OJSC and "Moscow Insurance Company" OJSC violated Clause 6 Part 1 Article 11 of the Federal Law "On Protection of Competition" in terms of economically, technologically and otherwise ungrounded fixing of different rates for the same insurance services.

When the case was being processed, "ROSBANK" Joint-Stock Commercial Bank OJSC, "Moscow Insurance Company" OJSC, "Military-Insurance Company" OJSC and subsidiaries of "Rosgosstrakh" OJSC presented documentation confirming voluntary eliminations of the consequences of the antimonopoly violations under Clause 1 Part 1 Article 48 of the Federal Law "On Protection of Competition".

For instance, "ROSBANK" Joint-Stock Commercial Bank OJSC:

- Presented the documents confirming cancellation of the agreements that violated the antimonopoly legislation;

- Has drafted the standard co-operation agreements with insurance companies on consumer credits, mortgage credits and Auto Loans, that are in compliance with the antimonopoly legislation;

- Has approved the Regulations on the procedures for accrediting insurance companies for co-operation in retail crediting, allowing to accept policies of any insurance company which meets the bank requirements;

- On its Internet-site http://www.rosbank.ru/ru/persons/credits/insurance/ and on the information stands for the clients of the bank branches, put information on the procedures for bank co-operation with insurance companies, including the bank requirements to insurance companies and their services, the list of documents required by "ROSBANK" Joint-Stock Commercial Bank OJSC to process accreditation of insurance companies, as well as the list of insurance companies accredited for retail loan schemes.

- Amended the standard offer-statements and conditions for offering consumer credits and auto loans, namely:

"the following insurance services are no more considered mandatory: voluntary civil liability of a loan recipient, life and health of a loan recipient, and Compulsory Civil Liability Motor-Vehicle Insurance;

"changed the duration of an insurance agreement, which is now set by arrangements between an insurance company and a policy-holder;

"excluded increasing the amount of coverage in comparison with the outstanding amount on the loan".

The bank has put information on the above amendments and on possibilities of the loan recipients to take advantage of the new rules on its Internet-site and on the information stands for the clients of the bank branches.

To eliminate the difference in the rates for voluntary insurance of motor-vehicles, applied for insuring the motor-vehicles, pledged to credit organizations, and for insuring the non-collaterized motor-vehicles, the "Rosgosstrakh" Group, "MSK" OJSC and "VSK" OJSC amended the documentation setting the procedures for calculating the rates for the above insurance services, which exclude the coefficient, linking insurance rates to the compensation paid by an insurer to its partners (banks, car showrooms, etc.)

Due to voluntary elimination of the antimonopoly violations and their consequences by the bank and the insurance companies, and governed by Clause 1 Part 1 Article 48 of the Federal Law "On Protection of Competition", FAS Russia has concluded that there are no grounds to issue determinations to "ROSBANK" Joint-Stock Commercial Bank OJSC and insurance organizations on terminating competition-restricting agreements and undertaking actions to promote competition.

Violating Artcile 48 of the Federal Law "On Protection of Competition" constitutes the grounds for imposing administrative charges upon the responsible persons under Article 14.32 of the Code of Administrative Violations of the Russian Federation.

Under the Notes to Article 14.32 of the Code of Administrative Violations of the Russian Federation, a person that voluntarily reported to an antimonopoly body on entering into a competition-restricting agreement, which is forbidden by the antimonopoly legislation of the Russian Federation, and that has refused to participate or further participate in such an agreement and presented available information (data) to facilitate establishing the fact of such an agreement, is relieved from administrative liability for an administrative violation.

The case was initiated upon voluntary statements of "ROSBANK" Joint-Stock Commercial Bank OJSC and 36 insurance companies on withdrawing from competition-restricting agreements, which are forbidden by the antimonopoly legislation of the Russian Federation.