Encyclopedia
Agreement on Direct Compensation for Damages
Agreement on direct damage compensation — such an agreement determines the procedure and conditions for settlements between the insurer that has carried out direct damage compensation and the insurer that has insured the civil liability of the person who caused damage, as well as between the insurer that has carried out direct damage compensation or the insurer that has insured the civil liability of the injured party and the professional association of insurers in cases provided for by Article 14.1 of this Federal law1.
Agreement on direct damage compensation — is concluded between members of the professional association of insurers. Such an agreement determines the procedure and conditions for settlements between the insurer that has carried out direct damage compensation and the insurer that has insured the civil liability of the person who caused damage2.
Federal Law of April 25, 2002 No. 40-FZ "On Compulsory Insurance of Civil Liability of Vehicle Owners", as amended on March 2, 2019, Article 26.1, paragraph 1 // RSZ RF. 2002. No. 18. Item 1720. ↩
Federal Law of December 1, 2007 No. 306-FZ, "On Amending Federal Law 'On Compulsory Insurance of Civil Liability of Vehicle Owners' and Article 2 of the Federal Law 'On Amending and Supplementing the Law of the Russian Federation 'On Organization of Insurance Activities in the Russian Federation' and on Declaring Certain Legislative Acts of the Russian Federation as Lapsed" from December 1, 2007, as amended on July 21, 2014, Article 1, paragraph 1#4 // RSZ RF. 2007. No. 49. Item 6067. ↩