Recourse and Subregulation Indebtedness in Russia
A subrogation claim is a transition to an insurance company that has paid insurance compensation, the right to claim compensation from the person responsible for the damage. This requirement applies to a situation where the insurance of the OSAGO guilty of causing damage did not cover the amount of damage in an accident and the insurer CASCO who paid for it collects the difference from the person or organization that caused the damage. The recourse claim is the right of the insurance company to demand from the perpetrator of the accident to compensate her for what she spent on compensation for losses under OSAGO to the victim.
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Main article: Insurance (Russian market)
Debts of motorists
2013: 22.1 billion rubles (+ 26 %)
The debts of Russian motorists to insurance companies incurred for damage in road accidents in 2013 increased by 26%, amounting to 22.1 billion rubles according to the National Collection Service. According to the results of 2014, this figure will grow to 27-28 billion rubles.
The growth in debt in 2013 was caused by record car sales in 2012 (some of the cars purchased then fell into a situation of regression or subrogation already in 2013), as well as an increase in the cost of repairs and maintenance (the price of the hour standard). In addition, an increase in the number of accidents had an impact.
Indicators of the automotive market growth and the dynamics of the number of road accidents traditionally affect the volume of regression and subrogation requirements. In 2013, according to the European Business Association, sales of new cars amounted to 2.78 million units, which is 5.5% (161,342 units) less than in 2012. According to the State traffic inspectorate of the Russian Federation, the increase in the number of accidents in 2013 was insignificant and amounted to 0.2% compared to 2012.
The assessment of the "National Collection Service" includes cases of occurrence of the right to claim for insurance payments that occurred as a result of road accidents (recourse and sub-settlement debts). We are talking about the right of claim, which occurred as a result of insurance events for a certain calendar period. This indicator does not include the amount of claimed, previously unresolved claims for previous calendar periods.
The growth of the volume of declared but not settled claims in annual terms in 2013 was within the forecast given by the National Collection Service (not more than 23 billion rubles in 2013).
According to the company's forecasts, the volume of regression and subrogation claims under the OSAGO and CASCO programs in 2014 will maintain the growth rate in 2013 and amount to about 27-28 billion rubles.
The forecast for 2013 growth in 2014 is based on the projected increase in prices for new cars (at least 10%) in 2014 while maintaining the level of sales in 2013 (the sales forecast of the European Business Association for 2014 is 2.73 million cars, which is slightly lower than in 2013).
Sergey Shpeter, Senior Vice President of the National Collection Service: "The dynamics of demand growth in 2014 will be determined by an increase in prices for cars and their maintenance. Price increases will be a determining factor, which, despite the low growth rate in the number of accidents and a decrease in sales of new cars, will lead to an increase in the amount of estimated damage as a result of accidents. The amount of outstanding requirements, taking into account previous periods, according to our estimates, is at the level of 13-17 billion rubles. "
Geographical Distribution of Requirements Raised by Federal Districts
.PNG)
Scope of claims submitted to collection agencies
As of January 1, 2014, the volume of declared requirements transferred to the work of collection agencies amounted to about 5 billion rubles. This amount mainly includes accumulated debt for previous periods, which insurers could not successfully resolve in a short time, as well as claims declared in 2013. According to NSV forecasts, according to the results of 2014, the volume of unsettled requirements transferred to collection agencies may amount to about 7-9 billion rubles.
When assessing the volume of outstanding claims transferred to the work of debt agencies, it should be borne in mind that so far most of the debt (up to 70%) falls into the work of subsidiaries, or agencies and law firms affiliated with insurance companies. This is due to the insufficient practice of pre-trial settlement of insurance debt among independent collection agencies, a very complex and expensive process from an operational point of view.
Characteristics of defendants on regression and subrogation claims with which debt agencies work
The characteristics of debtors depending on gender have a number of differences. Women in the age category from 36-60 years old have higher both the amount of claims and the period of unsettled compared to men of the same age group. At the same time, the indicators of the amount and term of the claim in the age category from 22 to 35 years for men exceed similar indicators for women.
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