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Premiums under Green Card policies in Ukraine grow 2.4-fold, payments by 42.6% in Jan-Sept – MTIBU
KYIV. Nov 4 (Interfax-Ukraine) – Accrued insurance premiums under Green Card international insurance contracts concluded by member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) grew by 2.38 times in January-September 2022 compared to the same period in 2021, to UAH 2.905 billion.
As reported on the MTIBU website, the number of Green Card policies concluded over this period rose by 2.1 times, to 1.205 million.
At the same time, the amount of compensation paid on claims increased 42.6%, EUR13.685 million, while the number of paid claims rose by 35.9%, to 5,143 cases.
The MTIBU is the only association of insurers that provides compulsory insurance of 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. The Green Card insurance 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.
