Insurance companies-members of the Motor (Transport) Insurance Bureau of Ukraine (MTSBU) in January-March 2024 concluded 1.7 million contracts of compulsory civil liability insurance of owners of land vehicles (CMTPL), which is 5.02% more than in the same period of 2023.
According to data released on the MTSBU website, 74% or 1.2 million contracts were concluded electronically, 20% more than in January-March last year.
Members of the Bureau for the three months of 2024 increased the collection of insurance payments under CMTPL insurance policies by 26.2% compared to the comparable period of 2023 – up to UAH 2.1 billion, including UAH 1.673 billion (+41.12%) under electronic contracts.
The amount of the average insurance premium under MTPL contracts is UAH 1,262.8 (+20.1% compared to the same period of 2023).
The total amount of accrued insurance indemnities under domestic insurance contracts has increased by 31,16% – up to UAH 1,18 billion, including UAH 237,9 million paid using “europrotocol” (+17,34%).
The Bureau also recorded an increase in the number of settled claims for insurance compensation by 17.95% – up to 36.6 thousand, including data on the use of “Europrotocol” -13,206 thousand (+3.94%).
The average amount of insurance indemnity for claims of victims in Q1 2024 is UAH 32,270 thousand, which is by 11,2% more than in the same period of 2023 (UAH 29,019 thousand).
The ITSBU is the only association of insurers in Ukraine, carrying out compulsory insurance of civil liability of owners of inland motor vehicles for damage caused to third parties. 33 insurance companies are members of the Bureau.
