Volodymyr Zelenskyy signed the law №8300 on compulsory motor third party liability insurance (MTPL). The document changes the rules of compulsory motor third party liability insurance, bringing them closer to the European level (as well as the insurance amounts).
The current law «On Compulsory Insurance of Civil Liability of Owners of Motor Vehicles» came into force in 2005 and, according to the authors of Law No. 8300, no longer meets the current market realities and the requirements of the directives of the European Parliament and the Council of the EU. Therefore, there is a need to improve the relevant legislation.
The new Law No. 8300 provides for a gradual increase in the amount of insurance amounts (maximum insurance payments) to the amounts established in EU countries. Currently, the limit of the insurer’s liability for damage to life and health is UAH 320 thousand per victim, regardless of their number. Property damage is estimated at UAH 160 thousand per victim (but not more than UAH 800 thousand per insured event).
Starting from January 1, 2025, the limits will be UAH 500 thousand per victim (UAH 5 million per accident) and UAH 250 thousand per property (UAH 1.25 million per accident). Starting from January 1, 2026 (but not before the lifting of martial law), the amounts for damage to life and health will increase to UAH 1 million per victim and UAH 20 million per insured event, and for damage to property of the injured persons – up to UAH 2 million per insured event.
In addition, these amounts will be further gradually increased within 4 years after Ukraine’s accession to the EU: for damage to life and health of the injured – up to UAH 52 million per person and UAH 258 million per insured event; for damage to property of the injured – up to UAH 52 million per insured event.
The new law No. 8300 expands the scope of the Euro protocol, when it will be possible to file a claim for insurance compensation in an accident without the involvement of the police. The document also introduces direct settlement of road traffic accidents if only the car is damaged – the victim will be able to apply for insurance payment to his or her insurer, even if the culprit of the accident is not insured. In addition, the document introduces a procedure for calculating the amount of insurance payment excluding depreciation and making insurance payments in the amount necessary to restore the vehicle.
Among other innovations:
Source: «Word and deed»