Business news from Ukraine

Business news from Ukraine

MTIBU increases cost of policies for those traveling abroad by more than quarter

26 July , 2022  

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) introduces new tariffs for Green Card policies for those traveling abroad from July 26, 2022, according to the Bureau’s website.
According to a message on the bureau’s website, MTIBU has recalculated the cost of Green Card insurance certificates, which are being introduced upward by 26.3%.
The last change in tariffs was on July 18, 2022, downward by 4.4%.
Green Card policies have been implemented since 2009 in two types: all of Europe, Moldova. Also, from January 1, 2016, Ukrainian Green Card policies began to operate on the territory of Azerbaijan.
According to the MTIBU, the cost of a “Green Card” in Ukraine for 15 days for trips around Europe for cars rises to UAH 913 (previously – UAH 723), for buses – up to UAH 3,429 thousand (UAH 2,715 thousand), for trucks – up to UAH 2.153 thousand (UAH 1.705 thousand).
The cost of the “Green Card” for one month for cars is now UAH 1.453 thousand (previously UAH 1.150 thousand), buses – UAH 4.763 thousand (UAH 3.772 thousand), trucks – UAH 2.858 thousand (UAH 2.263 thousand) .
The cost of semi-annual and annual Green Card policies for cars is UAH 6,451 thousand and UAH 7,986 thousand, respectively, for buses – UAH 16,673 thousand and UAH 30,964 thousand, for trucks – UAH 13,529 thousand and UAH 25,534 thousand respectively.
The cost of policies for trips to Azerbaijan and Moldova for cars for 15 days will be UAH 665, for one month – UAH 978, for six months – UAH 2.242 thousand, for the year – UAH 3.193 thousand.
The amounts of unified insurance payments under international compulsory civil liability insurance contracts for owners of land vehicles are established by the Cabinet of Ministers on January 6, 2005 and are defined in euros.
“Green Card” – a system of insurance protection for victims of a traffic accident, regardless of their country of residence and the country of registration of the vehicle. The “Green Card” covers the territory of 47 countries of Europe, Asia and Africa.
According to the decision adopted by the General Assembly of the Council of Bureaux of the International Auto Insurance System “Green Card” in Luxembourg in May 2004, Ukraine has been a full member of this system since January 1, 2005.

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