Importance Swift growth in car ownership and increasing number of traffic accidents enhance the significance of the compulsory motor insurance (CMI) market, as insurance companies can reliably and quickly help their customers obtain funds to rehabilitate after car accident or to repair the damaged vehicle. Objectives Our objectives are to study the current state of the Russian compulsory motor insurance market, identify major problems, and consider possible prospects of the market development. Methods We applied analytical methods to review various aspects of insurers' activity in the Russian compulsory motor insurance market and to identify the most effective ways out of the crisis. Results We found that during the period under analysis, CMI premiums in Russia increased by 65%, and insurance payments - by 66%. The payment ratio was growing throughout the entire period of the study, and by early 2015, it made 59.8%. The market leaders in terms of collected CMI premiums are Rosgosstrakh (35% of all revenues in 2014), RESO-Garantiya (12%), and VSK (6%). Conclusions and Relevance Now the CMI market in Russia falls, in many regions the loss ratio exceeds the allowable value. Changes in car insurance laws will solve many problems hindering the development of the CMI market.
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