MTIBU (Motor (Transport) Insurance Bureau of Ukraine) appealed to the National Bank of Ukraine with a proposal to increase MTPL insured amounts (maximum payment): up to UAH 160 thousand for property damage of victims, and UAH 320 thousand for harm to life and health, as well as to increase the limit of payments under the European Accident Statement to UAH 80 thousand, MTIBU reported.

Now the insured amounts are UAH 130 thousand and UAH 260 thousand, respectively, and the limit of payments under the European Accident Statement is UAH 50 thousand. Last time the insured amounts were revised in September 2019.

"The increase of insured amounts in MTPL will be a step towards a fairer and more effective system for protecting the rights of victims of road accidents. Every year we have about a thousand cases when the amount of damage exceeds the insured amount under MTPL policy. Those injured victims of such accidents are entitled to full compensation. Now they have to demand compensation over the insured amount from persons responsible for accidents, and this often requires a lengthy trial ...", explained MTIBU General Director Vladimir SHEVCHENKO.

MTIBU is also confident that an increase in the limit of payments under the European Accident Statement will contribute to the growth of confidence of Ukrainian vehicle owners in this way of registering accidents. In January-May 2021, the number of claims settled under the European Accident Statement increased by 34% y-o-y. Based on the European Accident Statement, over UAH 270 million were paid to the victims - this is a third of the total amount of paid claims (+45%).

*1 EUR = 32.16 UAH (16.07.2021)