“Which insurance company is the most reliable?” is one of the most frequently asked questions. Behind it are two different ones: will the company have enough money to pay, and will it pay quickly and without unnecessary disputes. Both can be answered using public data, without relying on advertising.

1. Check the licence

Only organisations licensed by the Bank of Russia may carry out insurance activities in Russia. Look up the company in the regulator’s Directory of Financial Market Participants: check whether the licence is valid, which types of insurance it covers and whether there are any restrictions or suspensions.

Also make sure the policy is sold by the insurer itself or its official agent. The authenticity of an OSAGO policy (compulsory motor third-party liability insurance) can be checked in the OSAGO automated information system (AIS OSAGO).

2. Assess financial stability

The Bank of Russia sets requirements for insurers’ own funds, insurance reserves and their investment, as well as for the ratio of capital to obligations assumed. Companies publish financial statements. What to look at:

  • the amount of own funds and how it changes;
  • the volume of insurance reserves;
  • the claims ratio for the type of insurance you need;
  • any supervisory measures taken by the Bank of Russia.

Ratings

A convenient benchmark is credit ratings from Russian agencies on the Bank of Russia register: ACRA, Expert RA, NKR and NRA. A rating reflects the agency’s opinion of the company’s ability to meet its obligations. Look not only at the level but also at the outlook (“stable”, “negative”) and the date of the last review.

3. Find out how the company pays

Financial stability does not yet guarantee convenient claims handling. Check the service before you buy:

  • Focus on private clients. Companies active in the retail segment usually have a developed claims network, online claim filing and clear deadlines.
  • Contact centre. Call and ask a specific question, for example: “What documents are needed if my flat is flooded?” The speed and precision of the answer will tell you a lot about the service.
  • “Awkward” questions. Ask them to name the main exclusions and show where they are written in the rules, check the deadlines for filing a claim and what to do immediately after an event. Willingness to answer honestly is a good sign.
  • Service station network. For OSAGO and KASKO (comprehensive car insurance), it matters which service stations the company works with in your city.

How to read complaint statistics

The Financial Ombudsman publishes statistics on applications broken down by financial organisation. Comparing companies by the absolute number of complaints is misleading: a large insurer has more clients and more claims. Look at relative figures — complaints per number of contracts or claims — and the share of applications resolved in favour of consumers.

4. Read the terms, not just the price

A price that is too low in voluntary insurance often means narrow cover: a large deductible, many exclusions, payouts net of wear and tear. Compare insurance rules and contracts. What to check is explained in “Insurance Rules: What They Are and Why to Read Them”.

5. What happens if the licence is revoked

  • OSAGO. If the at-fault party’s insurer has its licence revoked or is declared bankrupt, the injured party receives a compensation payment from the Russian Union of Motor Insurers (RSA) within the OSAGO limits: up to 400,000 rubles for property damage and up to 500,000 rubles for harm to life and health.
  • Life insurance. From 1 January 2027, a system guaranteeing individuals’ rights under life insurance contracts will start operating (Law No. 477-FZ): if a licence is revoked, payouts — up to RUB 10 million for death-related payouts and up to RUB 2.8 million for other payouts — will be provided by the Deposit Insurance Agency (DIA, known in Russian as ASV). Until then, there are no such guarantees.
  • Other types. For KASKO, property insurance and most voluntary types there are no state guarantees: claims are included in the register of creditors. That is why the insurer’s reliability is especially important for long-term and large contracts.

Quick checklist

  1. The Bank of Russia licence is valid and covers the type of insurance you need.
  2. The company has a rating from an accredited agency with a stable outlook.
  3. Financial statements are published and own funds are not declining.
  4. The company works with private clients and handles claims in your region.
  5. The contract terms are clear, and you are comfortable with the exclusions and deductible.

Company profiles are collected in the insurance company directory. You can compare offers in the comparison section and calculate the cost of a policy in our calculators.