Business news from Ukraine

MTIBU AGAIN REDUCES COST OF GREEN CARD POLICIES

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) is introducing new tariffs for Green Card policies for those traveling abroad by road from May 16, 2020.
According to the report on the bureau’s website, the MTIBU recalculated the cost of Green Card insurance certificates downward by 4%.
The last change in tariffs was on April 1, 2020 upward by 4.4%, the previous on March 20 by 4.7%.
Green Card policies have been implemented since 2009 in two ways: all of Europe; Belarus, Moldova and Russia. Also, from January 1, 2016 Ukrainian Green Card policies began to operate in Azerbaijan.
According to the MTIBU, the cost of Green Card policies in Ukraine for 15 days for trips across Europe for cars is reduced to UAH 712 (previously UAH 741), for buses to UAH 2,667 (UAH 2,785), and for trucks to UAH 1,681 (UAH 1,748).
The cost of Green Card for one month for cars will be UAH 1,134 (previously UAH 1,180), buses UAH 3,719 (UAH 3,868), and for trucks some UAH 1,681 (UAH 2,321).

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE 21% UP IN 2020

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 21.72% in January-February 2020 compared to the same period in 2019, to more than 59,536.
According to the MTIBU’s website, the amount of accrued insurance premiums for the indicated period decreased by 10.93% compared to the same period last year, to UAH 271 million.
At the same time, the amount of compensation paid on claims increased by 2.1 times, to EUR 2.704 million, while the number of claims paid by 87.7%, to 1,115.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for harm caused to third parties.

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MTIBU RAISES COST OF GREEN CARD POLICIES BY 5%

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will introduce new tariffs for Green Card policies for people traveling abroad by car from 00:00 on March 13, 2020. According to a report on the bureau’s website, the MTIBU recalculated the cost of Green Card insurance certificates, which are introduced, up 4.9%
The last tariff change was on December 6, 2019 towards a decrease of 4%.
Green Card policies have been implemented since 2009 in two ways: all of Europe; Belarus, Moldova, and Russia. Also, from January 1, 2016, Ukrainian Green Card policies began to operate in Azerbaijan.
According to the MTIBU, the cost of Green Card policies in Ukraine for 15 days for trips in Europe for cars rises to UAH 678 (formerly UAH 647), for buses to UAH 2,548 (UAH 2,430), for trucks to UAH 1,600 (UAH 1,525).
The cost of the Green Card for one month for cars will be UAH 1,080 (UAH 1,029), buses some UAH 3,539 (UAH 3,375), trucks some UAH 2,123 (UAH 2,025).
The cost of six-month and annual Green Card policies for cars will be UAH 4,793 and UAH 5,934 respectively, for buses UAH 12,389 and UAH 23,000, for trucks UAH 10,053 and UAH 18,974 respectively.
The cost of policies for trips to Azerbaijan, Belarus, Moldova and the Russian Federation for cars for 15 days will be UAH 494, one month some UAH 726, half a year some UAH 1,666 and one year some UAH 2,372.

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 43%

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 43.23% in January-November 2019 compared to the same period in 2018, to more than one million.
According to the MTIBU’s website, the amount of accrued insurance premiums for the specified period increased by 28.05% compared to the same period last year, to UAH 1.541 billion.
At the same time, the amount of compensation paid on claims rose by 30.26%, to EUR 13.664 million, while the number of claims paid grew by 14.14%, to 5,296.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties.

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NUMBER OF GREEN CARD INTERNATIONAL INSURANCE CONTRACTS IN UKRAINE 45.6% UP

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 45.6% in January-July 2019 compared with January-July 2018, to 618,969.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 35.8% compared to the same period last year, to UAH 1.038 billion.
At the same time, the amount of compensation paid on claims grew by 22.41%, to EUR8.440 million, while the number of claims paid was up by 3.04%, to 3,047.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties. Its members are 51 insurance companies, including ten full bureau members having the right to sign Green Card agreements.

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NUMBER OF GREEN CARD INTERNATIONAL INSURANCE CONTRACTS IN UKRAINE UP BY 48% IN H1, 2019

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 48.2% in January-June 2019 compared with January-June 2018, to 501,449.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 37.53% compared to the same period last year, to UAH 883.538 million.
At the same time, the amount of compensation paid on claims grew by 14.88%, to EUR 6.869 million, while the number of claims paid decreased by 2.26%, to 2,550.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties. Its members are 51 insurance companies, including ten full bureau members having the right to sign Green Card agreements.

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