Grief-developer Alexander Dolgin spoiled to "Prominstrakh"

The Central Bank has prohibited the insurer of the bankrupt Urban Group from working with developers. The company is excluded from the list of insurers of developers and can not enter into new contracts.
From October 3, Prominstrakh Insurance Company was excluded from the list of insurers that comply with the requirements of the law on shared construction (214-ФЗ). This follows from the message of the Central Bank, in which Prominstrakh was not. Insure the civil liability of developers to equity holders can only companies from the list of securities.

The report of the Central Bank does not give reasons for excluding "Prominstrakh" from the list of insurers of developers. The company's CEO, Ilya Ozolin, in an interview with Vedomosti, called the decision of the Central Bank unexpected, promising to provide detailed comments later.

On the Prominstrakh website, it is reported that the company will, on October 3, suspend the execution of civil liability insurance contracts for developers in connection with exclusion from the list of securities. "Despite the exclusion from the list <...> Prominstrakh LLC continues its activities in the insurance market in other areas of business," it says. It also notes that the company continues to have a license for developers' liability insurance. According to the contracts concluded before October 2, Prominstrakh "continues to bear full responsibility."

IC "Prominstrakh" - one of the leaders in the market of liability insurance of developers, it is its main activity. In 2017, the company raised 4.8 billion rubles. Premiums - 2nd place for this type of insurance, according to the Central Bank. The company's profit for 2017 - 477 million rubles., Follows from its reporting.

Prominstrakh insured the liability of five companies that are members of the Urban Group, which on July 9 were declared bankrupt by the court, Expert RA agency reported. In July, the agency placed the rating of the insurer under observation (the ruB + rating continues to operate with a “stable” outlook). The rating action “Expert RA” was explained by the publication of a letter from the Central Bank on issues of civil liability insurance of developers: it ordered the insurers of the Urban Group to form additional reserves.

Since autumn 2017, the state replaced the institute of liability insurance of developers to equity holders with the Fund for the protection of the rights of real estate investors, where developers are required to transfer contributions in the amount of 1.2% of each contract.