The Association of Regional Russian Banks tried to draw the attention of the Federal Insurance Surveillance Agency to the issue of consumer loan-related financial risk insurance for the banks.

Their letter to the Agency said that since April 2006, ROSNO, an insurance company, had not been meeting its liabilities concerning the general agreement signed by its Ural branch and UralTransBank: the bank received neither compensation nor any well-grounded justification of refusal in any of the events insured against.

The appeal of UralTransBank claims that ROSNO is letting down not only its clients but also the shareholders as the company is painting a pretty picture of the facts and provides inaccurate information. This kind of behaviour is damaging the reputation of the whole Russian insurance community.