Some 76.7% of OSAGO claims in Ukraine were settled within 90 days, according to the performance indicators of insurers for the fourth quarter of 2020.
According to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), the share of claims settled within 60 days was about 58.5% (Q4, 2019 – 62.7%), up to 90 days – 76.7% (75.1%), up to 120 days – 85.1% (81.7%).
The MTIBU notes that the best performance in the settlement of insurance events was shown by Motor-Garant insurer, which settled 87.7% of all OSAGO claims within 60 days, VUSO – 82%, Ukrainian Insurance Standard – 79.1%, Kniazha VIG – 76.4%, Alfa-Insurance – 75.8%, ASKO-Donbas Pivnichny – 75.1%, Inter-Policy – 75.1%, ARX – 74.6%, Express Insurance – 73.1%, Guardian – 72.8%, Ukrainian Insurance Group – 72.5%, Arsenal Insurance – 72.2%, TAS – 72.3%, INGO – 70.7%, Krayina – 70.7%.
In addition, it is reported that in the fourth quarter of 2020, the MTIBU received 333 complaints from victims and policyholders about the actions of insurance companies, which is 11 more than in the fourth quarter of 2019. The largest number of complaints was received against Omega – 32, which is 11.72% of the total number of resolved OSAGO events, ASKA – 51 complaints (6.81%), Unives – nine (6%), U.S.I. – 53 (1.83%).
The MTIBU is the only association of insurers in Ukraine that provides compulsory insurance of land vehicle owners’ civil liability for damage caused to third parties. The bureau members are 48 insurance companies.
