RBC to come into extra insurance advantage for mass media
Moscow, November 24, 2010 â€” On November 19, 2010, the Russian State Duma passed draft amendments setting forth preferential insurance rates for the Russian mass media. With nearly all companies of the RBC Group licensed as mass media, they will be entitled to a reduced rate on insurance premiums from 2011 to 2014. Under the bill, the aggregate reduced insurance premium rate will be set at 26% for 2011, 27% for 2012, 28% for 2013 and 30% for 2014.
Since the insurance rate for companies that do not qualify for the reduced rate will be set at 34% starting on January 1, 2011, RBC will be gaining an extra competitive advantage for the next 4 years. Considering that the bill has already passed the second reading, analysts are quite upbeat on its chances of being signed into law.