UKRAINE: MTIBU: in 2021, payments from the Fund for Protection of Victims increased by 29% y-o-y

2 February 2022 —
In 2021, MTIBU (Motor Transport Insurance Bureau of Ukraine) made 7.1 thousand payments from the Bureau's Victim Protection Fund for a total of UAH 278.5 million (EUR 9 million*). Compared to 2020, the number of payments increased by 10.3% and the amount - by 29%, according to the Bureau's website.

The largest number of payments were made for damage caused by owners of uninsured vehicles (who caused road accidents without a valid MTPL policy) - 4.3 thousand payments in the amount of UAH 183.2 million (+23%).

The number of payments made for drivers of preferential categories increased significantly - by 19.2%, reaching 1.4 thousand. The amount for this category increased by 34.4% and reached UAH 50.2 million.

MTIBU General Director Vladimir SHEVCHENKO said that the new law "On MTPL", which is being worked on, should radically change the approach to providing benefits in insurance of civil liability of vehicle owners. "The current standards for beneficiaries do not correspond to the realities of life, and in fact are a kind of economic discrimination of some drivers in favor of others", he explained.

In 2021, MTIBU paid out about UAH 15 million under MTPL obligations of 10 insurance companies that left the market and were declared bankrupt. This amount is 15.2% more than a year earlier.

*1 EUR = 30.9226 UAH (as of Dec 31, 2021)



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