Business news from Ukraine


4 October , 2021  

Accrued insurance premiums under Green Card international insurance agreements concluded by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-August 2021 increased by 37.52% compared to the same period in 2020, to UAH 1.075 billion.

According to the MTIBU website, the number of Green Card agreements concluded during this period increased by 22.04%, to 496,200.

At the same time, the amount of compensations paid on claims decreased by 35.54%, to EUR 7.865 million, the number of claims paid – by 20.26%, to 3,302.

The MTIBU is the only association of insurers that provide compulsory insurance of civil liability of land vehicle owners for damage caused to third parties.

Green Card is a system of insurance coverage for victims of road traffic accidents, regardless of their country of residence and the country of registration of the vehicle. The Green Card program covers the territory of 47 countries in Europe, Asia and Africa.

According to the decision adopted by the General Assembly of the Council of the Bureaux of the Green Card international auto insurance system in Luxembourg in May 2004, Ukraine since January 1, 2005 has been a full member of this system.