OREANDA-NEWS. March 19, 2010. On March 5, 2010 Ingosstrakh OJSIC's press release on insurers which failed to timely pay for claims submitted on the basis of subrogation was published in the mass media.

In reply to the information on the outstanding debt in the amount of 6,430,820 rubles and filing of lawsuits, Insurance Group Admiral LLC provided information on the stages of settlements of claims with Ingosstrakh OJSIC.

According to Insurance Group Admiral LLC's information, the recognized debt to Ingosstrakh OJSIC, out of 6,430,820 rubles, amounts to “only 1 348 625 rubles” for 36 claims.

The remaining claims were allegedly not satisfying for the following reasons: request of additional documents (total amount of claims: 843,236 rubles), consideration of such claims in court (total amount of claims: 660,452 rubles), nonexpired term for examination (total amount of claims: 793,146 rubles), non receipt of the claim by Insurance Group Admiral LLC (total amount of claims: 1,951,212 rubles) etc.

Moreover, Insurance Group Admiral applies and interesting “know-how”: indemnity paid by Insurance Group Admiral for most claims is significantly lower than the amount of the claims submitted. By paying, in metaphorical sense, out of each hundred thousand rubles of the debt only 10,000 rubles, the debtor, probably, considers that the obligations have been duly performed. As a result of the application of this innovative method, over 6 mln rubles of the claims submitted become little more than 1 mln rubles.

We also note that the most part of the debt recognized by this company consists of claims received by Insurance Group Admiral LLC in 2009. The failure to pay 36 claims and the existence of a recognized debt already indicate a violation of the terms for examination of claims established by the law on compulsory motor third-party liability insurance and by the Rules of Professional Activity of the Russian Association of Motor Insurers (RAMI). In 2010 Ingosstrakh OJSIC has sent 19 more claims to Admiral Insurance Company for the total amount of 868,986 rubles, already 5 of the said 19 claims have not been examined in due time by Insurance Group Admiral LLC and currently have not been paid.

The insurer requests from Ingosstrakh OJSIC copies of additional documents which are not regulated by the RAMI Rules of Professional Activity (appraisal report, power of attorney). Ingosstrakh sends the documents supporting the damage amount in strict compliance with the said RAMI Rules.

As for the “non received” claims for 1,951,212 rubles, in this case Insurance Group Admiral LLC intentionally misinforms the market participants, because all claims are sent in the same way: by mail.

In connection with this, Ingosstrakh OJSIC cannot agree with the data on debt submitted by Insurance Group Admiral LLC, since in connection with the above violations Ingosstrakh filed complaints in court for the claims not paid voluntarily by the insurer within the term established by the laws or not fully paid.

Is it clear that Insurance Group Admiral LLC is evading its obligations to pay Ingosstrakh OJSIC's claims submitted on the basis of subrogation. For this reason Ingosstrakh OJSIC will continue to file the relevant court complaints and notify on violation of the laws by Insurance Group Admiral LLC the Russian Association of Motor Insurers, the Federal Insurance Supervision Service and the clients.