UKRAINE: in July-September 2022, MTIBU paid more than UAH 68 million to road accident victims

15 November 2022 — Marina MAGNAVAL
As the results of the third quarter of 2022 show, the MTIBU (Motor Transport Insurance Bureau of Ukraine) made 1.4 thousand payments from the Victim Protection Fund of the Bureau in the total amount of UAH 68.3 million (~EUR 1.89 million), as the Bureau said in its press release.

Compared to the same period last year, the number of payments decreased by 16.4%, while the amount increased by 12.8%. At that, the largest number of payments was made for damage caused by owners of uninsured vehicles - 0.92 thousand payments in the amount of UAH 45.8 million. The number of payments compared to the same period last year, remained almost unchanged (+0.2%), while the amount rose by 14.5%. The weight of payments for uninsured vehicles in the total number of payments is about 70% both in terms of number and amount.

For the first time in a long period, the number of payments to drivers of preferential categories decreased significantly - by 33.2% in number and by 4.2% in amount. The weight of such payments is almost 15%.

In July-September, the MTIBU paid out almost UAH 2.4 million for obligations of insurers recognized bankrupts. This amount is 70% less y-o-y, due to reduction in the number of such companies. Payments for damage caused by unidentified vehicles remain minimal (UAH 0.8 million).

Volodymyr Shevchenko, Director General of the MTIBU, commented: "Despite the war, the MTIBU conscientiously fulfills its guarantee functions, making regular payments to victims of road accidents in a timely manner and in full. The decrease in the number of payments from the Bureau's guarantee funds generally corresponds to the reduction of the MTPL segment due to the war. At the same time, we see that the average size of regular payments has increased, which may indicate both greater severity of road accidents and the increase in car repair costs due to inflation and devaluation of the national currency", he explained.

*EUR 1 = UAH 36.05 (01.10.2022)

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