Vladimir Zelensky signed a new law No. 8300 concerning the reform of compulsory motor third party liability insurance for vehicle owners, bringing the rules and amounts of payments closer to European standards.
Auto insurance reform
Increasing payment limits
According to the new law No. 8300, the amounts of insurance amounts (maximum amounts of payments for insurance cases) will gradually increase to the levels established in the EU countries. Currently, the maximum amount of insurer liability is 320 thousand hryvnia for damage to the life and health of one victim, 160 thousand hryvnia for damage to the property of one person (no more than 800 thousand hryvnia for one incident).
From January 1, 2025, the limits will increase to 500 thousand hryvnia per victim (5 million hryvnia per accident) and 250 thousand hryvnia for property damage (1.25 million hryvnia per incident). And from January 1, 2026 (but not before the lifting of martial law), the amounts for damage to life and health will increase to 1 million hryvnia per victim and 20 million hryvnia per insured event, and for damage to the property of victims - up to 2 million hryvnia per incident.
Further increase after joining the EU
In addition, these limits will increase for another 4 years after Ukraine joins the European Union: for harm to the life and health of victims - up to 52 million hryvnia per person and 258 million hryvnia per insured event; for damage to property of victims - up to 52 million hryvnia per incident.
Expansion of the European protocol and direct settlement
The new law expands the possibilities of registering the European protocol, allowing you to draw up an application for insurance compensation in case of an accident without involving the police. Direct settlement of insurance claims for damage to only the car is also being introduced - the victim will be able to apply for payment directly to his insurer, even if the person responsible for the accident is not insured. In addition, a procedure is established for calculating insurance payments without taking into account wear and tear and making payments in the amount necessary to restore the vehicle.
Other innovations
- Guarantee payments to injured persons from bankrupt insurers will be paid faster - up to 90 days.
- The period for consideration of an application for insurance payment will be reduced from 90 to 60 days from the date of filing.
- A gradual abandonment of the conclusion of paper auto insurance contracts and a transition to exclusively electronic form is envisaged.
- Free pricing of insurance contracts is being introduced - insurance companies will be able to independently set prices for insurance products and individually for each client.
- The possibilities of checking the availability of a motor third party liability policy are being expanded by various bodies, including the National Police (including auto registration), the State Border Service and Ukrtransbezopasnost.
Glossary
- OSAGO (Compulsory motor third party liability insurance) is a type of insurance that protects the interests of victims of road accidents.
- RTA (Road accident) – an event that occurred as a result of the movement of a vehicle and resulted in harm to life, health or property.
- Europrotocol is a procedure for registering an accident without calling the police, subject to certain conditions.
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Answers to questions
What are the main changes in the legislation on compulsory civil liability insurance of vehicle owners, provided for by the new law No. 8300?
How will the maximum amounts of insurance payments change under Law No. 8300?
What innovations are provided in the field of the European protocol and the settlement of road accidents under the new law No. 8300?
How will the procedure for calculating insurance payments and making payments change under the new law No. 8300?
What other changes are provided for by the new Law No. 8300 in the field of compulsory motor liability insurance?
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Discussion of the topic – MTPL insurance amounts will increase to the European level: what will change?
Vladimir Zelensky signed Law No. 8300, which changes the rules of compulsory civil liability insurance for car owners, bringing them closer to European standards. The insurance amounts will gradually increase to a level corresponding to European standards.
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Карл
I believe that increasing the limits on compulsory motor liability insurance is a good decision. Currently, the insurance amounts are too low, and in the event of a serious accident, victims may be left without proper compensation. 💰
Софи
Yes, indeed, these changes are long overdue. But I am more interested in the possibility of directly settling the accident with my insurance company. This is very convenient and saves time. 🙌
Хуан
What about the increase in insurance prices? I’m already paying a lot of money, and with the new limits I’ll have to pay even more. 😩
Франц
Juan, but if something happens, you will be protected and receive decent compensation. It's worth it in my opinion. Safety first! 🚘
Альберто
Listen, what if you make compulsory motor third party liability insurance optional? Let everyone decide for themselves whether they need it or not. Why force insurance on everyone? 🤔
Герман
Alberto, then there will be too many uninsured drivers on the roads, and in the event of an accident, victims may be left without compensation. Compulsory insurance protects all road users. 🛡️
Анна
I support change. The main thing is that insurance companies work honestly and pay the required amounts without delay. Otherwise we know how it happens... 🙄
Бруно
Why are you all such skeptics? 😂 I think the new law is a step in the right direction. Road safety should be a priority, and raising limits will only help with that. Let's drive more calmly! 🚗