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GAAP.RUNewsLicenses of Russian insurers will be revoked much easily

Licenses of Russian insurers will be revoked much easily

Two mistakes in financial accountancy – and you’re out

Publication date: 29 March 2010

Russian State Duma’s deputy Vladislav Reznik has introduced amendments that will allow the Federal Insurance Supervision Service (aka “RosStrakhNadzor”) to revoke an insurance company’s license if the insurer makes two mistakes during the year while preparing financial accountancy.

Russian State Duma’s deputy Vladislav Reznik has introduced amendments that will allow the Federal Insurance Supervision Service (aka “RosStrakhNadzor”) to revoke an insurance company’s license if the insurer made two mistakes during the year while preparing his financial accountancy.