Business news from Ukraine

Ukrainian insurers have increased number of settled MTPL cases

27 November , 2022  

In July-September 2022 insurance companies – members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) settled 51.1% of claims for property damage within 60 days from the date of the accident, up 43.1% compared to Q2 this year (35.7%) .
According to the report on the website of the IASBU, the percentage of claims settled within 90 days in the 3rd quarter of 2022 increased from 46% to 62.2%, up to 120 days increased from 60.2% to 67.4%, for 365 days decreased from 96.3% to 95.9% compared with the 2nd quarter of 2022.
IASBU reports that the greatest number of payments within 60 days performs insurance companies “Universalna” -79,6% (for the 2nd quarter. 61,7%), “Unique” – 77,6% (61.1%), IC “VUSO” -76,2% (57.3%), SG “TAS” -75,5% (62,3%), “ARCS” -75,4% (62,7%), “Knyazha VIG” – 74,3% (62,6%), “ROM Ukraine” -70% (64,1%), “USG” -69% (47,7%), Alfa Insurance -67.6% (56.8%), Arsenal Insurance -66.8%, Providna -66%, Brokbusiness -65.4%, INGO – 63% (45.5%), Oranta -62.1% (38.3%), Express Strakhovanie -60.8%.
The smallest proportion of claims on MTPL within 60 days in January-September 2022 at “Oranta-Sich” -%, “UTSSK” -0,6%, “Omega” -0,9% and “Etalon” -4%.
MLSBU also reported that for the third quarter of 2022 the bureau received 294 complaints against its members, which is 19,1% less than during the quarter before (363).
MTSBU is the only association of insurers, which performs compulsory insurance of civil liability of ground transport owners for damage, caused to third parties.

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