The insurance companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-March 2020 increased collection of insurance premiums on compulsory insurance of vehicle owners’ civil liability (OSAGO) by 20.28% compared to with the same period of 2019, to UAH 1.3 billion.
According to data published on the MTIBU’s website, the number of OSAGO contracts in the first quarter increased by 0.55%, to 1.776 million
The total amount of accrued insurance claims under internal insurance contracts increased by 15.15%, to UAH 684.3 million. In particular, more than UAH 123 million is paid using European accident record forms, which is 12.8% more than in January-March 2019.
The bureau also recorded an increase in the number of settled claims for insurance compensation by 10.3%, to 37,527, of which 13,041 using European accident record forms (an increase of 10.35%).
The MTIBU is the only association of insurers that carries out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties. The bureau members are 49 insurance companies.