What is the date of the present Law and of its entry into force?

What is the date of the present Law and of its entry into force?

The Federal Law No. 223-FZ of 04.07.2014 introduces a big pack of amendments to the Federal Law No. 40-FZ on Mandatory Civil Liability Insurance of Vehicle, the most significant among them – the increase of the minimum amounts of coverage, the obligatory use of the direct claims settlement procedure, obligation to use common rules of expert’s examination prepared by RAMI and adopted by the Central Bank of Russia (supervisory authority exercising control over financial markets), introducing of an option to repair the car instead of money payment etc.

Majority of changes will enter into force as of 01.09.2014 with the following exceptions:

As of 02.08.2014:
A) The obligatory use (previously – on the choice of victim) of the procedure of direct claims settlement in case the accident involved not more than 2 vehicles (the vehicle with a trailer is considered as one vehicle) both insured by MTPl-policies, resulting in material damage only
B) New rules for simplified reporting of road accident: the parties of accident can fix the circumstances of an accident without calling the police under following conditions:
- not more than 2 vehicles participated in the accident (including the trailer)
- both vehicles should be insured by MTPL-policies,
- material damage only
- accident statement filled in
Important note: both parties should be ready to present the vehicles to the examination to the insurers under their demand Maximum payment – 50 000 rubles (ca. 1040 euro), with some exceptions.

As of 01.10.2014:
A) The increase of the limit for compensation of the material damage 
B) The maximum deterioration rate – not more than 50 % (till the date – maximum 80 %)
C) The indemnification can be exercised trough payment or remanufacture

As of 01.04.2015 – the increase of the limit for compensation of the bodily injuries