Confidence Group would like to inform you that starting from January 31, 2016 the Order of the Bank of Russia as of 13.09.2015 N 3793-U "On the minimum (standard) requirements of the conditions and procedures of the health insurance in terms of the voluntary medical insurance of foreign citizens and persons without citizenship staying in Russia in order to work" entered into force.
According to the instructions the following requirements are set for:
- Validity period of voluntary medical insurance (hereinafter – VMI) agreement: this period is determined based on the estimated period of a work permit, but may enter into force before the date of actual work permit start date.
- Territory of validity of the contract: now the contract territory should include the subject of Russia where the person is supposed to work.
- Blanks of VMI policies of migrant workers.
- The information contained in the policy, namely: on the insurer, with an indication of the legal form and the full corporate name of the company, number and date of issue of the license for the voluntary health insurance, with the exception of voluntary life insurance, the official website, bank account number, name and position of the person authorized to sign the VMI contract on behalf of the insurer; on the insurant, with the indication, for the citizens - name, gender, date of birth, address of residence or stay in Russia, the date of registration, passport data, contact information; for individual entrepreneurs - name, date of birth, citizenship, place of residence in Russia, passport data, contact information, date of state registration; for legal persons: legal form of organization, name, address, contact information, name and position of the person authorized to sign the VMI contract; the insured person, indicating the full name, gender, date of birth, address of residence or stay in Russia, the date of registration, passport data;
- The minimum size of the sum insured: the minimum amount of insurance coverage under such contracts is 100 000 rubles, while this amount can be reduced by the amount spent by the insurer for all the insured events occurring.
Insurance companies are given an order to change the VMI procedure within 120 days from the date of entry into force of the new requirements.
Confidence Group recommends checking carefully the newly received VMI policies for the compliance with new requirements, as well as reports that the policies received prior to the entry into force of the new law are not a subject to adjustment and will continue to have effect until their expiry.
The Order of the Bank of Russia is available here.
For additional information please contact consultants of Confidence Group.
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