Business news from Ukraine

Tariffs for “Green Card” policies for those who travel abroad have been increased in Ukraine

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) has increased tariffs for Green Card policies for those traveling abroad by 3.1% from December 30, 2022, the Bureau’s website reports.
According to the MTIBU, the last change in tariffs took place on November 17, 2022 upward by 6.9%, on October 3, 2022 – downward by 5.5%, and before that (July 26) – upward by 26.3%.
Green Card policies have been sold since 2009 in two types: all of Europe and Moldova. Also, from January 1, 2016, Ukrainian policies “Green Card” began to operate in Azerbaijan.
According to the MTIBU, the cost of the “Green Card” in Ukraine for 15 days for traveling in Europe for passenger cars rises to UAH 952 (previously – UAH 923), for buses – up to UAH 3.578 thousand (UAH 3.469 thousand), for trucks – up to UAH 2.246 thousand (UAH 2.178 thousand).
The cost of “Green Card” for one month for cars is now UAH 1.516 thousand (against UAH 1.470 thousand before), buses – UAH 4.970 thousand (UAH 4.818 thousand), trucks – UAH 2.982 thousand (UAH 2.891 thousand).
Six-month and annual policies “Green Card” for cars will now cost UAH 6.731 thousand and UAH 8.333 thousand respectively, for buses – UAH 17.396 thousand and UAH 32.307 thousand, for trucks – UAH 14.116 thousand and UAH 26.641 thousand.
The cost of policies for trips to Azerbaijan and Moldova for passenger cars for 15 days will be UAH 694 (previously UAH 672), for one month – UAH 1,020 thousand (UAH 989), for six months – UAH 2,340 thousand (UAH 2,268 thousand), for a year – UAH 3,331 thousand (UAH 3,230 thousand).
The amounts of single insurance payments under the contracts of international compulsory insurance of civil liability of owners of land vehicles are established by the Resolution of the Cabinet of Ministers of January 6, 2005 and are determined in euros.
“Green Card” is a system of insurance protection for victims of road accidents regardless of their country of residence and country of vehicle registration. “Green Card” covers the territory of 44 countries in Europe, Asia and Africa.
According to the decision of the General Assembly of the Council of the Bureau of the international motor insurance system “Green Card”, adopted in Luxembourg in May 2004, Ukraine is a full member of this system since January 1, 2005.

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In Ukraine, the cost of “Green Card” policies has increased

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) has increased tariffs for Green Card policies for those traveling abroad by 6.9% since November 17, 2022, according to the Bureau’s website.

According to the MTIBU, the last change in tariffs was on October 3, 2022 downward by 5.5%, and before that (July 26) – upward by 26.3%.

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 923 (previously – UAH 863), for buses – up to UAH 3,469 thousand (UAH 3,244 thousand), for trucks – up to UAH 2,178 thousand (UAH 2,037 thousand).

The cost of the “Green Card” for one month for cars is now UAH 1,470 thousand (against UAH 1,375 thousand earlier), buses – UAH 4,818 thousand (UAH 4,506 thousand), trucks – UAH 2,891 thousand (UAH 2,703 thousand). ).

Semi-annual and annual “Green Card” policies for cars will now cost 6,525 thousand rubles. hryvnia and UAH 8.079 thousand, respectively, for buses – UAH 16.866 thousand and UAH 31.323 thousand, for trucks – UAH 13.685 thousand and UAH 25.829 thousand.

The cost of policies for trips to Azerbaijan and Moldova for cars for 15 days will be UAH 672 (previously UAH 629), for one month – UAH 989 (UAH 925), for six months – UAH 2,268 thousand (UAH 2,121 thousand), for a year – UAH 3,230 thousand. (UAH 3,102 thousand)

The amounts of unified insurance payments under international compulsory civil liability insurance contracts for owners of land vehicles are established by the Resolution of the Cabinet of Ministers dated 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 44 countries of Europe, Asia and Africa.

According to the decision of the General Assembly of the Council of Bureaux of the International Motor Insurance System “Green Card”, adopted in Luxembourg in May 2004, Ukraine has been a full member of this system since January 1, 2005.

GREEN CARD PREMIUMS IN UKRAINE GROW BY 45% – EXPERTS

Accrued insurance premiums under Green Card international insurance policies signed by member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) grew by 45.4% in January-February 2022 compared to the same period in 2020, to UAH 422.7 million.
As reported on the MTIBU website, the number of Green Card policies concluded over this period rose by 90.2%, to 186,300.
At the same time, the amount of compensation paid on claims decreased 0.72%, to EUR 1.836 million, while the number of paid claims fell by 0.24%, to 823.
MTIBU is the only association of insurers that provides compulsory insurance of civil liability of owners of ground vehicles for damage caused to third parties.
Green Card is a system of insurance coverage for victims of a road 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 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.

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YOU CAN RENEW “GREEN CARD” POLICY OF UKRAINIAN INSURERS ELECTRONICALLY ON THEIR WEBSITES

Drivers of vehicles registered in Ukraine who are abroad can renew the Green Card policy on the websites of insurers who are full members of the Motor (Transport) Insurance Bureau of Ukraine, according to the website of the bureau.

It is clarified that these are the sites of NASK Oranta – https://oranta.ua, UASK ASKA – https://aska.ua, IC INGO – https://ingo.ua, USK Knyazha Vienna Insurance Group” – https://kniazha.ua, “UTSK” – https://utico.ua, IC “PZU Ukraine” – https://pzu.com.ua, “SG “TAS” – https:/ /sgtas.ua, IC “USG” – https://ukringroup.ua, IC “Persha” – https://persha.ua, IC “Guardian” – https://grdn.com.ua.

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MTIBU FULFILLS INTERNATIONAL OBLIGATIONS – PRESIDENT OF THE BOARD OF BUREAU “GREEN CARD”

The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) fulfills its international obligations and functions in war conditions.
“We are all facing the tragic and unique situation of the war initiated by the Russian Federation in Ukraine: we now have one National Bureau (MTIBU), which is a member of the board of the Green Card Bureau, is under fire, but still continues to work. It seems fantastic and almost unbelievable, but yes – it’s true: under all these circumstances, cooperation with MTIBU continues, despite the dramatic reality,” said Sandra Schwartz, President of the Board of the Green Card Bureau, in an exclusive interview with the analytical publication XPrimm.
According to her, according to MTIBU, the war in Ukraine caused a huge flow of refugees who left the country, many of them travel by car. Thus, while promoting a general consolidation of efforts to help them cope with the tragedy of war and seek asylum, European insurers are dealing with a very specific technical problem: crashes involving cars with Ukrainian license plates in the context of the fact that in an extreme situation, many of of them left for European countries without concluding an agreement on compulsory international insurance “Green Card”.
Answering a question about the number of Ukrainian cars that are now moving on European roads, Schwartz noted that, despite the fact that the Council of Bureaux is in constant contact with the authorities of countries that have a direct border with Ukraine, and the total number of refugees is known, there is a significant shortage information on the number of cars on Ukrainian license plates that left the country after the start of Russian military aggression.
“So we don’t have aggregated hard data yet, but we are sure that there are a huge number of Ukrainian-registered cars that not only cross the Ukrainian border to leave, but also drive further across Europe, where people hope to find shelter. And many of these cars do not have proper insurance protection,” she stated.
Schwartz stressed that such a situation is not legitimate, but has become generally accepted due to its urgency, since checking whether people have proper insurance is much less important than giving them access to a shelter as soon as possible. However, of course, there is a need to solve it.
Schwartz explained that there are several national initiatives to provide Ukrainians with free or cheap Green Card insurance or to cover temporary losses caused by uninsured Ukrainian cars.
“Also, a discussion has already begun whether this should be a common pan-European solution and how such a mechanism can work,” said the President of the Council of Bureaux.
She explained that the Council of Bureaux is in close contact with Insurance Europe (Federation of Insurers and Reinsurers, which unites 39 European insurance associations) on this issue in order to decide on the solution that will best resolve the current situation.
Due to the fact that the Ukrainian Bureau “Green Card” and insurers who are full members of the MTIBU are actively working, Ukrainian drivers can remotely renew an expired policy or receive a new one in digital format (as a pdf file). In the current situation, during verification, the document will be accepted in digital format, despite the fact that this is inconsistent with the UNECE recommendations, according to which the Green Card is a valid document only if it is provided in paper form.
Finally, the war in Ukraine also has a significant impact on cooperation with the Russian and Belarusian Green Card Bureaus.
“The first question is how and how it is still possible under the sanctions regime to make sure that the Russian Bureau is able to fulfill its obligations as a member of the Council of Bureaux. Of course, most of the questions at the moment are related to financial aspects, money transfers, etc.
We, as a system, must decide, taking into account reputational aspects, whether it is appropriate to have a Russian National Bureau among the members of the Bureau.According to the rules of the Green Card system, the only reason for suspending the membership of a particular national bureau is that it violates our rules.Thus , we must, first of all, analyze whether this is true or not,” Schwartz explained.

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GREEN CARD PREMIUMS IN UKRAINE 37.5% UP IN JAN-AUG

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.

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