Nowadays, 90 insurance companies are the associated members of MTIBU, 14 of them are entitled to issue both internal and international insurance policies.
Total number of issued domestic MTPL insurance policies increased by 7% and reached 3,4 mln. units in 1 half 2009, meanwhile the amount of premiums received augmented by 6% vs. the same period of 2008 and achieved 637,8 UAH mln.
As a socially oriented kind of insurance, the MTPL insurance is under the permanent monitoring of MTIBU' Directorate and in close cooperation with State Commission for Regulation of Financial Services Markets of Ukraine.
The priority component of the above-mentioned kind of insurance is insurance indemnification to victims and providing of regulation payments from the Centralized Victim Protection Fund.
The number of insurance claims addressed to insurers-members of MTIBU in 1 half 2009 comprised 38757 units, that is by 10% more comparing to the same period of the previous year. The total number of satisfied insurance claims within the given period increased by 6% vs. analogical period of 2008 and reached 31 294 claims (+1 712 units).
The total amount of satisfied insurance compensations in January - February of current year reached about 240 UAH mln., that is by 23% more than in the same period of 2008.
The average level of claims settlement in 1 half 2009 comprised 83% that is by 6% less vs. the same period of previous year. In January-June 2009 almost 58% of MTIBU's members achieved such a level. At the same time, 33 members reached the level of settlement much lower than average market one.
The above-mentioned situation led to augmentation of complaints addressed to MTIBU. Within the period of 1 half 2009 MTIBU received 548 complaints to insurers-members of MTIBU vs. 128 in 1 half 2008. The majority of such complaints referred to postponement of decision making by insurers concerning the insurance indemnification (424 complaints).
The average loss ratio during this period comprised 38%, that is by 6% more than in January - June of 2008. 16 MTIBU's members had the meaning of this indicator over 50%, and 4 of them exceeded 70%.
According to experts estimations, only 50% of ground vehicles are covered by MTPL insurance. In view of mentioned, the risks referred to the exploitation of non-covered ground vehicles remain high, so financial pressure on the Centralized Victim Protection Fund will grow.
In January - June of 2009 the amount of insurance indemnifications from the Centralized Victim Protection Fund reached 14,6 UAH mln. re. 1324 claims, that is by 43% and 30% more than in January - June of 2008. At the same time, 85% of all insurance indemnifications were paid to the victims in accidents caused by drivers of the non-covered vehicles.
International MTPL insurance "Green Card" also reflects a positive dynamics. The number of issued international MTPL insurance policies increased by 39% in January - June of 2009 vs. the analogical period of 2008. The amount of collected premiums augmented by 37% correspondingly.
The number of demands for reimbursement and the amount of insurance indemnifications concerning international MTPL insurance decreased by 20,2% (242 claims) and by 12,5% (424,9 EUR tsd.) accordingly. The total amount of insurance indemnifications reached 2,9 EUR mln. in current year.
Source: Information and analytical yearbook "Almanac" 2009
