Business news from Ukraine

Business news from Ukraine

MTIBU raises cost of Green Card policies by 5.6%

On December 22, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) raised tariffs for Green Card policies for those traveling abroad by 5.6%.

According to the MTIBU website, the last change in tariffs took place on September 29, downward by 3.4%, on April 21, 2023, upward by 3.15%, and on December 30, 2022, upward by 3.1%.

Since 2009, two types of Green Card policies have been sold: the whole of Europe and Moldova. Also, starting from January 1, 2016, Ukrainian Green Card policies began to operate in Azerbaijan.

Thus, according to the MTIBU, the cost of the Green Card for 15 days for traveling in Europe for cars rises to UAH 1,002 thousand (from UAH 949 thousand before), for buses – to UAH 3,766 thousand (UAH 3,567 thousand), for trucks – to UAH 2,364 thousand (UAH 2,239 thousand).

The cost of a one-month Green Card for cars is now UAH 1,595 thousand (compared to UAH 1,511 thousand before), buses – UAH 5,230 thousand (UAH 4,954 thousand), and trucks – UAH 3,138 thousand (UAH 2,972 thousand).

Semi-annual and annual Green Card policies for cars will now cost UAH 7,083 thousand and UAH 8,769 thousand, respectively, for trucks – UAH 14,855 thousand and UAH 28,036 thousand, for buses – UAH 18,307 thousand and UAH 33,999 thousand.

The cost of policies for traveling to Azerbaijan and Moldova for passenger cars for 15 days will be UAH 730 (previously UAH 691), for one month – UAH 1,074 thousand (UAH 1,017 thousand), for six months – UAH 2,462 thousand (UAH 2,332 thousand), for a year – UAH 3,506 thousand (UAH 3,321 thousand).

The amounts of single insurance premiums under contracts of international compulsory motor third party liability insurance for owners of land vehicles are set in accordance with the Resolution of the Cabinet of Ministers dated January 6, 2005 and are denominated in euros.

“Green Card is a system of insurance coverage for victims of road traffic accidents, regardless of their country of residence or country of vehicle registration. It covers 44 countries in Europe, Asia and Africa.

According to the decision of the General Assembly of the Council of the Bureau of the International System of Motor Insurance “Green Card”, adopted in Luxembourg in May 2004, Ukraine became a full member of the system on January 1, 2005.

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MTIBU reduces cost of Green Card policies by 3.4%

Starting September 29, the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will reduce tariffs for Green Card policies for those traveling abroad by 3.4%, according to its website.

According to the MTIBU, the last change in tariffs was on April 21, 2023, upward by 3.15%, on December 30, 2022, upward by 3.1%, before that they were also raised on November 17 by 6.9% after a decrease of 5.5% on October 3, before that, on July 26 of the same year, they were raised by almost a quarter (by 26.3%).

Since 2009, two types of Green Card policies have been sold: for the whole of Europe and Moldova. Also, starting from January 1, 2016, Ukrainian Green Card policies began to operate in Azerbaijan.

Thus, according to the MTIBU, the cost of the Green Card for 15 days for traveling in Europe for cars is reduced to UAH 949 (from UAH 982 previously), for buses – to UAH 3,567 thousand (UAH 3,691 thousand), for trucks – to UAH 2,239 thousand (UAH 2,317 thousand).

The cost of a one-month Green Card for cars is now UAH 1,511 thousand (compared to UAH 1,564 thousand before), buses – UAH 4,954 thousand (UAH 5,126 thousand), and trucks – UAH 2,972 thousand (UAH 3,075 thousand).

Semi-annual and annual Green Card policies for cars will now cost UAH 6,709 thousand and UAH 8,306 thousand, respectively, for trucks – UAH 14,070 thousand and UAH 26,566 thousand, for buses – UAH 17,340 thousand and UAH 32,204 thousand.

The cost of policies for traveling to Azerbaijan and Moldova for passenger cars for 15 days will be UAH 691 (previously UAH 715), for one month – UAH 1,017 thousand (UAH 1,052 thousand), for six months – UAH 2,332 thousand (UAH 2,413 thousand), for a year – UAH 3,321 thousand (UAH 3,436 thousand).

The amounts of single insurance premiums under contracts of international compulsory motor third party liability insurance for owners of motor vehicles were established by a resolution of the Cabinet of Ministers dated January 6, 2005 and are denominated in euros.

“Green Card is a system of insurance coverage for victims of road traffic accidents, regardless of their country of residence or country of vehicle registration. It covers 44 countries in Europe, Asia and Africa.

According to the decision of the General Assembly of the Council of the Bureau of the International System of Motor Insurance “Green Card”, adopted in Luxembourg in May 2004, Ukraine became a full member of the system on January 1, 2005.

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

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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