UKRAINE: from January to September, MTIBU payments to victims exceeded UAH 202 million

14 October 2021 — Marina MAGNAVAL
For 9 months of 2021, MTIBU (Motor (Transport) Insurance Bureau of Ukraine) paid the victims of traffic accidents UAH 202.3 million (~EUR 6.56 million*) from the Victim Protection Fund, and the total number of payments reached 5.4 thousand. The number of payments increased by 18.5% y-o-y, while the amount - by 32%, the press release of the Bureau said.

The largest share, as in previous periods, belongs to payments for harm caused by owners of uninsured vehicles (culprits of accidents without valid MTPL policy) - 61% of the total number of payments and 67% of the total amount of payments (UAH 136.2 million). The number of such payments increased by 12% y-o-y, while the amount went up by 30%.

"The increase in payments for uninsured drivers was significantly influenced by the increase in the total number of cars in the country. From 2016 to 2020, annual increase in the number of MTPL contracts was 3-5%, thus in 2020, the number of concluded contracts were 18% more than in 2016. (...) In 2020, MTPL insurers made payments 23% more than in 2016, which means that people are now more likely to apply for compensation, and insurance companies are now better processing applications from victims of road accidents. In just 8 months of 2021, the number of insurers' payments increased by 21% y-o-y", commented the General Director of MTIBU Vladimir SHEVCHENKO.

Also, in the first three quarters of 2021, MTIBU paid almost UAH 11.4 million under MTPL obligations of eight insurers declared bankrupt, which is 6.9% less than in the same period last year.

*at the following exchange rate:

1 EUR = 30.8231 UAH (01.10.2021)

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