UKRAINE: MTIBU: payments for uninsured vehicles in total amount of paid claims for the first half of the year reached almost 66%

16 July 2020 — Marina MAGNAVAL
In January-June 2020, MTIBU (Motor (Transport) Insurance Bureau) made payments from the guarantee funds of the Bureau in the total amount of UAH 104.3 million (~EUR 3.49 million*).

The number of paid claims decreased slightly by 4.3% y-o-y, most probably due to less intensive traffic during quarantine, the Bureau said in its press release. At the same time, total amount of paid claims increased by 10.6%.

The largest number of paid claims was made for damage caused by owners of uninsured vehicles (UAH 68.6 million, which is 23.2% more y-o-y), and the amount of such paid claims grew by 25.7%. The share of these paid claims in the total number of paid claims was almost 61.2%, and their amount reached 65.9% of the total amount of paid claims.

The General director of MTIBU Vladimir SHEVCHENKO noted that the Bureau is constantly working to accelerate and simplify procedures of regulatory payments. "Digitalization of the Bureau's business processes can significantly reduce time for document processing, which positively affects timing of payments from MTIBU funds", he said. Vladimir SHEVCHENKO also mentioned that MTIBU is considering a possibility to arrange submitting documents for regulatory payments from the Bureau through offices of any MTPL insurance company.

* for the following exchange rate:

1 EUR = 29.8677 UAH (as of 01.07.2020)

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