"Insurance services in Russia amount to 3$ of the gross product volume", - President of the All-Russian Union of Insurance Companies, Vice-President of the Russian Union of Manufacturers and Businessmen Igor Yurgens told at the regional scientific-practical conference 'Insurance as a socially oriented mechanism of development of the North-Western Federal District economics'. He added: "Thus, insurance potential as a vivid mechanism of any state is not fully used".

According to I. Yurgens, 90% of the Russia's population is not fully ensured with insurance protection. "We don't need budget money here, we need corresponding legislation to create conditions for the insurance market development. We need to continue work on elaborating insurance rules".

At the moment 1200 insurance organisations operate within the RF insurance system. During the last 3 years over 200 Russian companies got licenses for providing insurance activities.

Regional scientific-practical conference "Insurance as a socially oriented mechanism of development of the North-Western Federal District economics" took place at the conference hall of the Sovetskaya Hotel in Saint Petersburg October, 31. Representatives of the RF subjects' administrations, representatives of the RF State Duma, ministries and departments, and heads of the North-Western insurance organisations took part in the conference.

News source: IA "Rosbalt"
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