MTIBU is legal entity, non-commercial organization that performs
tasks defined by The Law of Ukraine “On Obligatory Civil Liability
Insurance of the Owners of the Ground Vehicles”, provided with the
functions of the Guarantee Fund and Green Card Bureau. MTIBU is not an
insurer and has no right to sign insurance agreements.
Motor (Transport) Insurance Bureau of Ukraine (MTIBU) was founded in
1994 by the insurers (that had permission to insure liability of owners
of the vehicles for causing damages to the third parties) according to
the requirements of the Decree of Cabinet of Ministers of Ukraine “On
insurance” dated May 10, 1993, no.: 47-93 and Provisions about the
procedure and conditions of compulsory insurance of civil liability of
the owners of the vehicles approved by the regulation of Cabinet of
Ministers of Ukraine dated June 17, 1994, no.: 372.
Main juridical acts that regulate activities of MTIBU are:
- The Law of Ukraine “On Obligatory Civil Liability Insurance of the
Owners of the Ground Vehicles” adopted on July 1, 2004, (hereinafter –
The Law);
- The Law of Ukraine “On Insurance” adopted on March 7, 1996.
Provisions about Centralized Insurance Reserve Fund of Victims
Protection suffered in the traffic accidents, approved by the Presidium
of MTIBU and agreed with Coordination Council of MTIBU.
Membership at the MTIBU
According to the requirements of The Law, membership in MTIBU is one of
the main conditions for performing obligatory insurance of civil
liability of the owners of the ground vehicles.
Members of MTIBU can be insurers – residents. Insurers can have a full
or associate membership status in MTIBU. The rights to conclude
international insurance agreements have only full members of MTIBU.
For acquiring the status of an associate member of MTIBU, an Insurer
shall obtain a license for execution of obligatory insurance of the
civil liability of the owners of the ground vehicles and pay a
guarantee contribution to the Victims Protection Fund.
As for today 64 insurers are the members of MTIBU, some of the insurers
are bringing their membership to conformity with The Law.
At the present day 82 insurance companies have activated their membership.
MTIBU acting as a Guarantee Fund has following main functions:
- managing the Victims Protection Fund and making indemnification from
that Fund on the terms stipulated by the current legislation of
Ukraine;
- gathering information about obligatory liability insurance for
generalization and making proposals as to perfection of obligatory
liability insurance procedure;
- cooperation with the government authorities in the matters of obligatory liability insurance;
- elaboration of forms of insurance policies, calculation of the basic
insurance premium and adjusting coefficients that must be approved by
the authorized body of executive power in the sphere of supervision of
the insurance markets;
- establishing procedure of concluding and executing the obligatory
civil liability insurance contracts, securing paying capacity of the
Bureau and members of the Bureau;
- informational explanation of the issues of obligatory civil liability insurance;
- development, support and maintenance of the Unified Centralized
Database of information concerning the obligatory insurance of the
civil liability of the owners of the ground vehicles.
About MTIBU 