Number of contracts under Green Card program in Ukraine fell 9.2% in 9 months

MOSCOW. Oct 16 (Interfax) - The number of Green Card insurance contracts signed in Ukraine in January-September 2024 decreased by 9.23% compared to the same period of 2023, reaching a little over 1.132 million, Ukrainian media outlets said citing a statement on the website of the Motor (Transport) Insurance Bureau of Ukraine.

In general, accrued insurance premiums in such contracts grew 6.54% in nine months year-on-year, reaching UAH 4.270 billion, the statement said.

At the same time, the amount of claims recovered increased by 12.83%, to 37.3 million euros, whereas the number of paid claims increased by 9.6%, reaching 11,800, it said.

The Motor (Transport) Insurance Bureau of Ukraine is the only association of insurance companies providing compulsory civil liability insurance to owners of ground transport vehicles against damage caused by third parties.

The Green Card is a system of insurance protection of persons affected by road accidents regardless of the country of their residence and the country where the vehicle is registered. It operates in 45 countries in Europe, Asia and Africa.

Ukraine became a full member of the Green Card International Motor Insurance System on January 1, 2005 in line with the decision of the General Assembly of the Council of the Bureaus of the Green Card International Motor Insurance System in Luxembourg in May 2004.