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The amount of compensation for damage caused to life and health to one victim in a road accident (accident) may be increased to UAH 1 million from January 1, 2020, and to UAH 20 million from 2025, and per one insured event, the maximum amount will be 20 million UAH and 100 million UAH, respectively, the director general of the National Association of Insurers of Ukraine (NAIU) Natalia Hudyma told the agency "Interfax-Ukraine".
At the same time, she clarified that this will become possible if the Verkhovna Rada of Ukraine adopts Bill No. 3670-d "On Compulsory Civil Liability Insurance of Owners of Land Vehicles" (new version).
In addition, this bill proposes to set the amount of compensation for damaged property at the level of UAH 500,000 per victim and UAH 2 million per insured event from January 1, 2020, and subsequently, from January 1, 2025 - UAH 8 million per victim and UAH 16 million per insured event.
It is also proposed to increase the amount of insurance compensation for moral damage caused by the death of an individual to 25 minimum wages established by law on the day of the insured event. Currently, it is 93,075 thousand UAH.
"The gradual increase in the amount of insurance sums (the amounts within which the insurer is obliged to pay insurance compensation - IF) and the amount of minimum payments for individual insured events will be brought to the level of the countries of the European Union and in accordance with judicial practice on the consideration of issues of compensation for damage caused by a road accident. Today, such an amount in Ukraine is a maximum of 100 thousand UAH for property damage and 200 thousand UAH for damage to the life and health of the victim. Having exhausted the specified limit, individuals must compensate for losses at their own expense," the head of the association emphasized.
In addition, the bill provides for the possibility of concluding an OSCPV contract in electronic form, which will eliminate problems and speculation associated with the production, storage, accounting and inventory of policy forms. Also, electronic policies will make it impossible to sell policies by companies that are already deprived of such a right, in contrast to the current situation, when drivers acquire the illusion of protection from insurers, no longer having anything to do with insurance.
"For the consumer, the advantage of this method of purchasing a policy is the ability, after studying the offers of insurers, to make a purchase at a convenient time, via the Internet and without unnecessary risks. For the state, this is additional, technological control over the availability and strength of insurance coverage of vehicles through access to the centralized database of the MTIBU, the cessation of dishonest activities of insurers deprived of the right to implement compulsory liability insurance contracts, in addition, this will contribute to raising the quality of insurance services to the European level," - noted N. Hudyma.
Another important innovation that may be introduced in Ukraine, if the bill is adopted, is the direct settlement of insurance cases provided for in it, in which in the event of a road accident the victim contacts the company from which he purchased the policy, which allows to reduce the terms of settlement of insurance cases and increase the amount of compensation under it, as well as strengthen trust in insurance.
As the head of the National Insurance Commission noted, in addition, the adoption of the bill will allow to establish a fair approach to determining the amount of damage, since it will be calculated on the basis of a damage report - a document that confirms the amount of estimated damage in accordance with the Law of Ukraine "On the Valuation of Property, Property Rights and Professional Valuation Activities in Ukraine" and the Law of Ukraine "On Forensic Expertise".
"The specified norm should change the current state of affairs, when some companies, using ambiguous wording of the current version of the law, mislead victims, artificially underestimating the amount of insurance compensation", - she noted.
Given the important changes provided for in the new version of the Law on Motor Civil Liability, the National Association of Insurers of Ukraine calls on the People's Deputies of Ukraine to adopt it, since it contains relevant provisions expected by consumers and the insurance market.
Source: Interfax-Ukraine
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