‘The All-Russian Union of Insurers is going to take part in the meeting of the Federal Insurance Surveillance Agency’s committee regarding the dispute between the insurer and the bank. We have already received the report on the independent examination of damage done to UralTransBank prepared by FBK Company Ltd. and the official response of UralTransBank,’ Pavel Bichiakishvili, the Legal Issues Director of the All-Russian Union of Insurers said to UrBC representative.

The second meeting of the committee has been scheduled for January 18, 2007. It is expected to be attended by the representatives of both ROSNO and UralTransBank, by President of the Association of Regional Russian Banks Anatoliy Aksakov, by First Vice President Olga Maslennikova, and by Mr Bichiakishvili. The first meeting took place in December 2006 when no agreement was reached. The two parties accused each other of failing to meet the terms of the general agreement on credit risk insurance related to consumer loans.