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Posted On

01
March
2023

Green Card premiums in Ukraine grow 2.3-fold, payments five-fold in Jan – MTIBU

KYIV. March 1 (Interfax-Ukraine) – Accrued insurance premiums under international insurance Green Card policies, concluded by member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), in January 2023 grew 2.3-fold compared to the same period in 2022, to UAH 430.9 million.

As reported on the website of the MTIBU, the number of Green Card policies concluded over this period grew by 77.3%, to 128,100.

At the same time, the amount of compensation paid on claims rose by more than five times, to EUR 3.403 million, while the number of paid claims grew by 3.2 times, to 969.

The MTIBU is the only association of insurers that provides compulsory insurance of land vehicle owners’ civil liability for damage caused to third parties.

Green Card is a system of insurance protection for victims of a traffic accident, regardless of their country of residence and the country of registration of the vehicle. Green Card covers the territory of 47 countries of Europe, Asia and Africa.

According to the decision adopted by the General Assembly of the Council of the Bureaux of the Green Card international auto insurance system in Luxembourg in May 2004, Ukraine has been a full member of this system since January 1, 2005.