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Insurers-members of MTIBU cut number of OSAGO agreements by 22.1%, payments by over 4.5% in Jan-Oct
KYIV. Dec 8 (Interfax-Ukraine) – In January-October 2022, member insurance companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) signed 5.866 million policies of compulsory civil liability insurance of owners of land vehicles (OSAGO), which is 22.05% less than in the same period in 2021.
According to the data published on the website of the MTIBU, 3.599 million of the total policies were signed in electronic form, which is 3.22% less than in the same period last year.
In January-October 2022, members of the Bureau reduced the collection of insurance payments under OSAGO policies by 4.53% compared to the same period in 2021, to UAH 5.622 billion, including UAH 3.819 billion under electronic policies (18.06% more).
The total amount of accrued insurance claims under internal insurance policies in January-October fell by 22.85% to UAH 2.252 billion, including UAH 464.9 million was paid using the EU accident report (14.5% less).
The Bureau also recorded a decrease in the number of settled claims for insurance compensation by 34.1%, to 91,516, including using the EU accident report, to 35,879 (29.16% less).
MTIBU is the only association of insurers that provides compulsory insurance of civil liability of land vehicle owners for damage caused to third parties. Bureau members are 42 insurance companies.
