About MTIBU
Motor (Transport) Insurance Bureau of Ukraine is the only association of insurers that provide compulsory motor third party liability insurance for owners of land vehicles for damage caused to third parties.
Membership of insurers in MTIBU is a requirement for carrying out compulsory motor third party liability insurance.
MTIBU is a non-profit organisation and operates in accordance with the Law of Ukraine "On Compulsory Insurance of Civil Liability of Owners of Land Vehicles", Ukrainian legislation and its Charter.
The main tasks of MTIBU are:
- Execution of guarantee functions in relation to compensation for damages caused to third parties by drivers of land vehicles in accordance with the current legislation of Ukraine and agreements concluded by the Bureau with authorised organisations of other countries on Motor Third Party Liability Insurance;
- Ensuring Ukraine's membership in the international motor insurance system "Green Card" and fulfilment of unanimously recognised obligations to other members of this system;
- Management of centralised insurance reserve funds - the Victims' Protection Fund and the Insurance Guarantee Fund;
- Coordination of activities of its members in the field of Motor Third Party Liability Insurance to ensure protection of victims of a road traffic accidents, both in Ukraine and abroad;
- Fulfilment of obligations under compulsory civil liability insurance (including international insurance contracts) for insurers-members of the Bureau in case of bankruptcy or litigation
- Cooperation with the Ministry of Internal Affairs of Ukraine and other state authorities on compulsory Motor Third Party Liability Insurance.
27 insurance companies underwriting compulsory motor third party liability insurance are members of MTIBU