14 Jun 2012 the President of the Russian Federation signed Federal law No. 67-FZ “On compulsory insurance of civil liability of the carrier for damage to life, health, property of passengers and on the procedure for compensation of such harm caused at transportations of passengers by underground” (hereinafter – 67-FZ), establishing, among other things, requirements on compulsory insurance of carriers liability for damage to life, health, property of passengers. Unfortunately, sufficient experience, which is the aviation industry, fully reflected in the adopted law is not found.
The majority of Russian air carriers, including international transport, already have the necessary policy of voluntary liability insurance, which surpass in their coverage amount of liability provided for 67-FZ. Market insurance of such risks formed and easy introduction of additional requirements on compulsory insurance could be construed as double insurance.
However, current practice requires the harmonization of Russian legislation with the international one.