OREANDA-NEWS. July 26, 2011. Moscow Arbitration Court dismissed the claim “Rosgosstrakh” Ltd. on invalidating the determination of the Federal Antimonopoly Service (FAS Russia) that imposed a fine upon the company, reported the press-centre of FAS Russia.

FAS Russia held “Rosgosstrakh” Ltd. administratively liable under Part 1 Article 14.32 of the Code of the Russian Federation on Administrative Violations and fined the company over 46 million Rubles.

“Rosgosstrakh” Ltd. took part in agreements that resulted in fixing and maintaining prices (tariffs) for vehicle insurance for physical persons who were the clients of “KRK” CJSC and “KRK Commercial Bank” OJSC. “Rosgosstrakh” Ltd. also participated in agreements, which resulted in imposing disadvantageous insurance contract conditions upon the clients by establishing fixed insurance premium for the second and subsequent years of vehicle insurance at 9.99%.

“Rosgosstrakh” Ltd. disagreed with the determination and filed a lawsuit to Moscow Arbitration Court, which on 13th June 2011 dismissed the claim of the insurance company.