MTIBU increases total payments from Victims Protection Fund by 44.6% in Jan-Nov

KYIV. Dec 22 (Interfax-Ukraine) – The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) made 6,763 payments from the Victim Protection Fund (VPF) in January-November 2023, which is 33.2% more than for the same period in 2022.

According to MTIBU’s report on its website, the total amount of such payments compared to January-November grew by 44.6%, to UAH 393.7 million.

The largest volume of payments – UAH 269.5 million, or 68.5% in amount and 4,300 in quantity – was payments for damage caused by those responsible for road accidents who did not have a valid compulsory motor liability insurance policy. The number of such payments grew by 33% year-over-year, and the amount by 89.1%.

This trend is intensifying due to the socio-economic consequences of the war.

During the reporting period, almost 1,100 payments worth UAH 72.9 million were made for drivers of preferential categories from the wage payroll, which is 28.8% more in number and 46.7% more in amount than for the same period in 2022.

In January-November 2023, MTIBU paid UAH 12.1 million for the obligations of insurance companies that ceased operations and were declared bankrupt.

For the obligations of companies that ceased operations in the market of the compulsory insurance of civil liability of owners of land vehicles, but were declared bankrupt in the manner prescribed by law, payments of UAH 34.4 million were made from the guarantee contributions of such insurers available in the Victim Protection Fund of MTIBU.

MTIBU also said that regulatory payments for road accidents caused by an unidentified vehicle remain minimal (in such cases they pay only if there is a threat to life and health) – UAH 4.4 million; payments caused by cars that were taken possession of as a result of illegal actions reached UAH 0.22 million.

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