In order to implement Federal Law No 294-FZ of December 30, 2012 On Introducing Amendments to Certain Legal Acts of the Russian Federation, Minister of Regional Development Igor Slyunyayev signed an order to form an interdepartmental working group to establish an Association of Mutual Civil Liability Insurance for Developers. The order was signed on March 6, 2013 and also approves a statute on the interdepartmental working group and its composition.
The creation of an Association of Mutual Civil Liability Insurance for Developers is one of the points of an action plan developed to protect the rights of developers – individuals whose rights and legal interests were violated during the process of building blocks of flats.
As of January 1, 2013, Russian agencies reported that there were over 800 problematic building projects and over 80,000 buyers were defrauded by developers. Under the action plan these issues are to be resolved by the end of 2013.
Organisational and technical support for the interdepartmental working group to establish an Association of Mutual Civil Liability Insurance for Developers will be provided by the Department of State Policy in the Sphere of Construction and Architecture under the Ministry of Regional Development.
