The insurers have already sent the corresponding request to the National Bank of Ukraine.
In particular, the current maximum insurance payouts are as follows:
- UAH 130 thousand – for damage to property;
- UAH 260 thousand – for damage to health;
- UAH 50 thousand – the limit of payouts under the European accident report.
Now it is proposed to introduce the following amounts of insurance payouts:
- UAH 160 thousand – for damage to property;
- UAH 320 thousand – for damage to health;
- UAH 80 thousand – the limit of payouts under the European accident report.
The MTSBU emphasized that the revision of insurance payouts in accordance with the inflation rate is enshrined in legislation.
“Increasing the insurance sums under compulsory motor third-party liability insurance will be a step towards a fairer and more effective system for protecting the rights of those injured in road accidents. Every year, there are about a thousand cases where the amount of damage to a car exceeds the insurance sum under the MTPL policy. People injured in such accidents have the right to full compensation. Currently, they have to demand compensation exceeding the insurance sum from the at-fault driver, and this often requires lengthy court proceedings,” the bureau noted.
The insurers also emphasized payouts under the European accident report – they believe that increasing payouts will encourage drivers to more often file documents about road accidents to receive compensation without involving the police. Thus, in the first five months of 2021, 34% more documents were filed under the European accident report than in the same period last year. At the same time, European accident reports accounted for a third of the total amount of all payouts – UAH 270 million.
