The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will conduct an introductory course on the main provisions of the draft law “On Compulsory Insurance of Civil Liability of Owners of Land Vehicles” in connection with the adoption of the draft law by the Verkhovna Rada on May 21, 2024, the Bureau’s website reports.
The introductory course will consist of four sessions (by sections of the draft law), which will be held on the official YouTube channel of the MTIBU on Fridays at 10:00 a.m., lasting 1 hour and 30 minutes, of which 30 minutes will be allocated for answering questions.
Approximate plan of lectures: 1 session: Basic principles of the New Law on MTPL and the procedure for concluding insurance contracts (I-II sections of the draft law), 2-3 sessions: Settlement of insurance claims and the procedure for making payments (Section III of the draft law), Session 4: Updating the functional work of the MTIBU and the basic principles of insurance companies’ membership in the Bureau (Section IV of the draft law).
To participate in the online course, you do not need to register, just follow the link on the specified day at 10:00.
Session links:
31.05.2024 https://www.youtube.com/live/hIQEzWFqQqc
07.06.2024 https://www.youtube.com/live/sy_nYwJzV7c
14.06.2024 https://www.youtube.com/live/EjkFx85kJ6I
21.06.2024 https://www.youtube.com/live/quhN5IfmApc
In January-April 2024, insurance companies-members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) concluded 2.307 million contracts of compulsory insurance of civil liability of owners of land vehicles (CTP), which is 5.66% more than in the same period in 2023.
According to the data published on the MTIBU website, 1.708 million contracts were concluded in electronic form (20% more).
In the first four months of 2024, the Bureau’s members increased the collection of insurance premiums under MTPL policies by 26.74% compared to the same period in 2023 – up to UAH 2.904 billion, including UAH 2.319 billion (+41.3%) under electronic contracts.
The average insurance premium under MOTPL contracts is UAH 1,259 thousand.
The total amount of accrued insurance claims under domestic insurance contracts increased by 34.26% to UAH 1.501 billion, including UAH 308.5 million paid using the Europrotocol (+24.25%).
The Bureau also recorded a 40.6% increase in the number of settled insurance claims to 48.9 thousand, including 17.3 thousand claims paid using the Europrotocol (+15.6%).
The average payment for property amounted to UAH 40,190 thousand, for the Europrotocol – UAH 17,62 thousand, for health – UAH 54,974 thousand.
MTIBU is the only association of insurers in Ukraine that provides compulsory insurance of civil liability of owners of land vehicles for damage caused to third parties. The Bureau’s members include 35 insurance companies.
The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) can provide a certificate of accident-free driving experience required by some foreign insurance companies to conclude an auto insurance contract.
According to its website, due to changes in the conditions of stay of vehicles with Ukrainian registration and the need to register them in the countries of stay, Ukrainians have faced the impossibility of further using the Ukrainian Green Card and the need to use insurance services of foreign insurance companies.
In order to obtain information from the MTIBU’s Centralized Database (CDB) on the history of insurance under the compulsory insurance of civil liability of owners of land vehicles and participation in road accidents, an application in any form must be submitted to the MTIBU.
The application must indicate the addressee (MTIBU), the applicant’s full name, details of the document certifying the individual submitting the request, the applicant’s individual tax number, address of residence (place of stay), e-mail, vehicle make and model (optional), vehicle license plate, vehicle VIN
The written application must be signed and dated by the applicant. After that, a scanned copy or a photo in pdf-format should be sent to mtibu@mtibu.kiev.ua.
The MTIBU emphasizes that the certificates are issued free of charge. The MTIBU’s database was created in 2010. Therefore, the database does not contain complete information on MTPL contracts concluded before 2010. Due to the large number of requests, it takes some time to process such a request.
Inquiries are sent by e-mail and are certified by an electronic digital signature.
In January of this year, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) made 643 regulatory payments from the Victims Protection Fund (VPF), which is 1.7% less than a year earlier.
According to a report on the MTIBU website, the total amount of such payments increased by 15.9% to UAH 36.3 million compared to January 2023.
The largest volume of payments – UAH 24.9 million, or 68.5% by amount and 397 by number – was for damage caused by road traffic accidents that did not have a valid MTPL policy. At the same time, the number of such payments increased by 9.8% and the amount by 18.5%.
In the reporting period, almost 99 payments amounting to UAH 6.03 million were made to drivers of privileged categories under the FOP, which is 4% less in number and 21.2% more in amount than in January last year. The share of payments to beneficiaries is 16.59% of the total amount of payments from the MTIBU Victims Protection Fund.
In January, MTIBU paid UAH 80 thousand under the liabilities of insurance companies that ceased operations and were declared bankrupt.
Under the liabilities of companies that ceased operations in the MTPL market but were declared bankrupt in accordance with the procedure established by law, payments were made at the expense of the guarantee premiums of such insurers available in the MTIBU’s guarantee fund in the amount of UAH 5.33 million.
The MTIBU also notes that the minimum amount of statutory payments for road accidents caused by an unidentified vehicle remains the same – UAH 7 thousand (in such cases, payments are made only in case of a threat to life and health).
In January 2024, insurance companies-members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) concluded 556,241 thousand contracts of compulsory insurance of civil liability of owners of land vehicles (CTP), which is 1.37% less than in the same period in 2023.
According to the data published on the MTIBU website, 411 thousand contracts were concluded in electronic form, which is 14.31% more than in January last year.
In January 2024, the Bureau’s members increased the collection of insurance premiums under MTPL policies by 19.25% compared to the same period in 2023 – up to UAH 706.7 million, including UAH 560 million (+34.05%) under electronic contracts.
The total amount of accrued insurance claims under domestic insurance contracts increased by 40.7% to UAH 400.7 million, including UAH 81.951 million paid using the Europrotocol (+23.02%).
The Bureau also recorded an increase in the number of settled insurance claims by 22.2% to 12,498 thousand, including 4,550 thousand (+5.25%) using the Europrotocol.
MTIBU is the only association of insurers in Ukraine that provides compulsory insurance of civil liability of owners of land vehicles for damage caused to third parties. The Bureau’s members include 35 insurance companies.
The average insurance premium for compulsory motor third party liability insurance (MTPL) in 2023 increased by 16.9% to UAH 1,141 thousand, according to the website of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
It is noted that in 2024, the insurance premium is expected to grow by another 6.7% to UAH 1,217 thousand.
In addition, the MTIBU also forecasts a 7.7% increase in the number of MTPL insurance contracts in 2024 (in 2023, 7.6 million insurance contracts were concluded (+6.77%) compared to 2022). The total amount of insurance premiums amounted to UAH 8,750.4 million, which is 24.87% more than in 2022.
In 2023, insurance companies paid UAH 3.8 billion to victims of road accidents, which is 38.9% more than in 2022, and settled 127,837 thousand claims for insurance compensation (+15.56%). The insured event frequency ratio is 1.67, which is 8.4% more than in 2022, but less than the “pre-war” figure of 1.92 in 2021.
More than 69% of issued insurance policies in 2023 are electronic and only 31% are presented in paper form.
Over the past year, 42,158 thousand claims were settled under the direct claims settlement system (DSS) and UAH 796 million of insurance indemnity was paid. The average time to settle a loss in the DDS system is 32 days, which is almost half as long as in the general settlement system.
The MTIBU Victims’ Protection Fund amounts to UAH 3,320.28 million, accumulated through paid premiums and contributions from insurers of the Bureau’s members.
In 2023, the number of complaints against insurers from victims and policyholders decreased by 54%.
Over the past year, 1.6 million international insurance contracts were concluded, and the total amount of accrued premiums under them amounted to UAH 5.207 billion (+27.3% compared to 2022).
The number of settled claims under international insurance contracts “Green Card” in 2023 amounted to 15.122 thousand, the total amount of compensation amounted to EUR 46.66 million.
The largest number of road accidents caused by Ukrainian drivers occurred in Poland – 31%, Germany – 19%, Romania – 7%, Czech Republic – 7% and Italy – 4%.
