OREANDA-NEWS. March 20, 2012. The Commission of the Federal Antimonopoly Service (FAS Russia) concluded that the “Savings Bank of Russia” OJSC and “Alliance” Insurance Company” OJSC (formerly “ROSNO” Insurance Company” OJSC) did not violate Part 4 Article 11 of the Federal Law “On Protection of Competition” and terminated the proceedings, reported the press-centre of FAS Russia.

The FAS Commission investigating the case concluded officers of FAS Russia and the Bank of Russia at par basis.

FAS Russia initiated the case upon complaints from physical persons against the “Savings Bank of Russia” OJSC and “Alliance” Insurance Company” OJSC: imposing upon loan borrowers an additional service for joining the Programme of collective voluntary life and health insurance for the borrowers of the “Savings Bank of Russia” OJSC and obtaining such insurance policies from a particular insurance company - “Alliance” Insurance Company” OJSC in the Novosibirsk and Vologda regions.

The “Savings Bank of Russia” OJSC and “Alliance” Insurance Company” OJSC included physical persons – borrowers of the “Savings Bank of Russia” OJSC into the Programme of collective voluntary life and health insurance as part of implementing No.258 Agreement on Insurance Terms and Conditions, and Procedures of 31st August 2009 concluded between the bank and the insurance company.

Investigating the case, FAS analyzed No.258 Agreement on Insurance Terms and Conditions, and Procedures of 31st August 2009, documents issues by the “Savings Bank of Russia” OJSC to exercise the Agreement. In particular, the Antimonopoly Service examined the form of insurance application, the conditions for taking part in the Insurance Programme, as well as communications between officers of the “Savings Bank of Russia” OJSC and “Alliance” Insurance Company” OJSC.

Analysis showed that the documents on the case file do not contain provisions on imposing or any other form of forcing borrowers to express consent to be insured under a collective insurance agreement. According to the conditions for taking part in the Insurance Programme, the services for joining the Programme of collective voluntary life and health insurance are voluntary and refusals to take part in the Programme do not constitute the grounds for denying loans.

The case file also does not contain the documents confirming arrangements between the “Savings Bank of Russia” OJSC and “Alliance” Insurance Company” OJSC towards imposing the services for including borrowers in the Programme of collective voluntary life and health insurance.

Thus, actions of the “Savings Bank of Russia” OJSC and “Alliance” Insurance Company” OJSC do not constitute violations of Part 4 Article 11 of the Federal Law “On Protection of Competition”, and FAS terminated the case.

In course of investigating the case, “Savings Bank of Russia” OJSC submitted documents confirming that in 2011 the bank undertook additional measures aimed to prevent imposing the services provided by the bank officers for joining the Programme of collective voluntary life and health insurance.

In particular, “Savings Bank of Russia” OJSC introduced some changes to several documents issued to implement No.258 Agreement on Insurance Terms and Conditions, and Procedures of 31st August 2009, in particular:

- changes are made to the insurance application related to informing borrowers regarding voluntary participation in the Programme of collective voluntary life and health insurance, as well as that the “Savings Bank of Russia” OJSC will not deny loans due to refusals to join the Programme;

- a provision is added to the conditions of taking part in the Insurance Programme, which provides for returning 100% of the fee for joining the Insurance Programme, if a borrower of the “Savings Bank of Russia” OJSC refuses to take part on the Programme within 30 calendar days after the date of joining.