UKRAINE: MTIBU concludes a Memorandum of Partnership with all local professional associations of insurers

6 November 2023 — Marina MAGNAVAL
MTIBU (Motor (Transport) Bureau of Ukraine) has concluded a Memorandum of Partnership with all local professional associations of insurers: the National Association of Insurers of Ukraine, the Insurance Business Association, and the League of Insurance Organizations of Ukraine, according to a press release from MTIBU, according to the MTIBU press release.

“All participants on the MTPL market are aware of the need to join forces to ensure reform and development of the industry, to implement joint actions aimed at creating an atmosphere of trust and partnership between insurers and road users. This is of particular importance now, when the adoption of a new version of the law “On Compulsory Motor Liability Insurance” is expected, and it will be necessary to act in a coordinated manner for the rapid and effective implementation of legislative innovations”, noted MTIBU General Director Oleksandr Bernazyuk.

All parties to the Memorandum agreed to implement a common policy in the field of compulsory motor liability insurance and cooperation in the following areas:

• preparation and provision of joint proposals for further reform of the industry and improvement of relationships between MTPL market participants.

• development of joint actions to improve financial literacy of road users.

• exchange of experience and knowledge in the field of compulsory civil liability insurance.

• organization of general, including public, discussions of critical issues of application of industry legislation, reducing the number of road accidents and the severity of the consequences of insured events, increasing awareness and protection of property rights and legitimate interests of consumers.



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