Why a guarantee system is needed
If the state obliges people to have a policy, it also takes on additional responsibility: a victim should not be left without compensation just because the insurer has left the market or the person at fault has fled. For this purpose Russia has guarantee mechanisms. The best known is compensation payments by the Russian Union of Motor Insurers (RSA) under OSAGO (compulsory motor third-party liability insurance). For life insurance, a separate system managed by the Deposit Insurance Agency (ASV) will start operating on 1 January 2027.
RSA compensation payments under OSAGO
The RSA is the professional association of insurers that offer OSAGO. It forms a compensation fund from insurers' contributions and pays victims from it when compensation cannot be obtained from the insurer. The rules are set out in Articles 18–20 of Federal Law No. 40-FZ on OSAGO.
When the RSA pays
| Situation | Harm to life and health | Damage to property |
|---|---|---|
| The insurer's licence has been revoked | Yes | Yes |
| Bankruptcy proceedings have been applied to the insurer | Yes | Yes |
| The person at fault is unknown (fled the scene) | Yes | No |
| The person at fault has no OSAGO policy | Yes | No |
The compensation payment is capped at the same limits as OSAGO: up to 500,000 rubles for harm to the life and health of each victim and up to 400,000 rubles for damage to property. Damage to a car caused by a driver without a policy is recovered from the person at fault.
If the accident qualifies for direct loss settlement and the problem is with the at-fault party's insurer, you should, as a rule, apply to your own insurance company. You go to the RSA when your own insurer has lost its licence or direct settlement is impossible.
How to obtain a compensation payment
- File an application with the RSA or its representative in your region — this function is performed by authorised insurance companies; the RSA publishes the list.
- Attach documents on the accident, on harm to health or property, and your bank details — the list is the same as for an ordinary OSAGO claim.
- Wait for the decision: the law allows 20 calendar days for review, excluding non-working public holidays.
- If refused or underpaid, send a formal claim and then, if necessary, go to court.
Recourse is not the victim's concern
After paying compensation, the RSA may recover it from the person at fault — if they are identified or if they had no policy. The victim and their family do not have to repay anything.
OSOPO and OSGOP
For compulsory liability insurance of owners of hazardous facilities (OSOPO) and of carriers (OSGOP), a similar function is performed by the professional association of insurers in these lines — the National Union of Liability Insurers (NSSO). It forms a compensation fund and pays victims if an insurer cannot meet its obligations because of licence revocation or bankruptcy.
Life insurance guarantees: the ASV
For a long time, savings and investment life policies had no protection comparable to bank deposit insurance. This is being changed by Federal Law No. 477-FZ of 26 December 2024 "On Guaranteeing Rights under Life Insurance Contracts". The Deposit Insurance Agency has become the operator of the system, and payments will be made from a special fund formed from life insurers' contributions.
Key facts about the system
- Launch. The law enters into force on 1 January 2027. Protection also covers contracts concluded earlier if they are in force on that date; they do not need to be re-signed.
- Guarantee event — revocation of the insurer's life insurance licence.
- Which contracts: individuals' voluntary life insurance contracts, including savings (NSZh), investment (ISZh) and unit-linked policies; the list of protected payouts is set by Article 4 of the law.
- Limits: up to 10,000,000 rubles for the risk of death of the insured person and up to 2,800,000 rubles for other payments — survival, surrender value, premium refunds and others. The limit is calculated in aggregate for all contracts with one insurer in respect of one insured person.
What policyholders should do
- Keep your policy, receipt and insurance rules — you will need them for any application to the RSA or ASV.
- Follow news about your insurer: if a licence is revoked, the Bank of Russia and the professional associations announce what to do next.
- Spread large savings so that claims against one insurer do not exceed the guarantee limits.
- If you were injured in an accident where the person at fault is unknown, do not delay your application: the limitation period is limited.
Learn more about the policies themselves in the OSAGO, life insurance and OSOPO for hazardous facilities sections.