UKRAINE: claims paid to road traffic accidents victims from MTIBU guarantee funds increased by more than 30% y-o-y in 2019

18 February 2020 — Marina MAGNAVAL
According to the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), in 2019 over UAH 212 million (~EUR 8 million) were paid to road traffic accidents victims from the MTIBU guarantee funds. The total number of claims paid increased by 20.1%, while their amount went up 30.2%.

The weight of payments to owners of uninsured vehicles (without MTPL policies) amounted to 52% in total paid claims of the bureau (vs. 68.3% a year ago). As the bureau noted, for the first time after several years on the uptrend, the payments for uninsured drivers have declined in 2019.

In 2019, the weight of payments to benefit-entitled categories of drivers amounted to 13.9% in total paid claims of the bureau (about UAH 29.6 million) with an increase by 12.5% y-o-y.

Last year the paid claims under MTPL liabilities of insurers declared as bankrupt went up: almost UAH 42.3 million were paid from MTIBU funds, the share in the total amount of paid claims reaching 19.9%.

As the MTIBU Director General Volodymyr SHEVCHENKO mentioned, "all drivers in our country need the adoption of a new law "on MTPL", which will help to accelerate the payment procedures in cases with insurance companies that stop fulfilling their obligations to victims of road accidents, as this is a socially important issue."

* EUR 1 = UAH 26.422 (01.01.2020)
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