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Limitation of the insurer's license scope
Licensing restrictions of the insurer - means a prohibition on concluding insurance contracts for certain types of insurance, reinsurance contracts, as well as making changes that result in an increase in the insurer's obligations in the relevant contracts1.
Federal Law No. 12-FZ dated March 7, 2005, "On Amending the Law of the Russian Federation "On Organization of Insurance Activities in the Russian Federation" 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 Recognizing Certain Legislative Acts of the Russian Federation as Expired," dated March 7, 2005, amended on June 23, 2016, Article 1, subpara. b#10 // RSZ RF. 2005. No. 10. Art. 760. ↩