The company's official website contains detailed information about their activities and principles: https://mtsbu.ua/ua/about_us/general/. We will briefly summarize the most important points and tell you how this company can help you.
MTIBU is an association of Ukrainian insurers that provide compulsory insurance of civil liability of owners of land vehicles for damage caused to third parties. The association operates in accordance with the Law of Ukraine "On Motor Third Party Liability Insurance".
Membership of insurance companies in MTIBU
Any insurance company offering OSAGO or Green Card insurance policies must be a member of MTIBU. However, membership can be either full or partial.
Types of membership in MTIBU for insurance companies:
Partial - if the insurance company has only the OSAGO product
Full - if the insurer has both insurance products (Green Card and OSAGO). There are very few full members of MTIBU. The full and up-to-date list can be found at the link: https://mtsbu.ua/ua/about_us/full_members_list/
The main tasks of the MTIBU
The MTIBU was established to regulate the insurance market of Ukraine, to check insurers for basic requirements and to control licenses for insurance services. The MTIBU is working hard to improve the quality of service, publish important information and create a unified database for storing insurance policies.
What tasks does MTIBU set for itself?
Performing warranty functions to compensate for damage caused to third parties during the operation of land vehicles in accordance with the current legislation of Ukraine
Ensuring Ukraine's membership in the international automobile insurance system "Green Card" and fulfillment of generally recognized obligations to authorized organizations of other member countries of this system
Management of centralized insurance reserve funds established under the Bureau to ensure the performance of its functions. For example, the Insurance Guarantee Fund
Coordination of the work of insurers both in Ukraine and abroad
Fulfillment of insurance obligations under the MTPL and Green Card for insurers-members of the Bureau in case of insufficient funds and property of these insurers that are declared bankrupt and/or liquidated
Cooperation with the Ministry of Internal Affairs (MIA) of Ukraine and other public authorities on MTPL issues
When can I contact MTIBU?
Every car owner should take care of having an insurance policy for their car. After all, the absence of a policy leads to fines from the police and possible financial problems due to fault in an accident.
But there are categories of people who are allowed not to buy car insurance. These include disabled people of certain groups, combatants, pensioners, and Chernobyl victims. But you need to take into account that MTIBU will cover losses only within the framework of the current legislation. Therefore, it is better to buy insurance with an extension of the standard sum insured - Additional Coverage.
If you have been injured in an accident and the culprit is exempt from insurance, you need to contact the MTIBU. Read more about how to receive a payment from MTIBU.
In addition to cases of receiving compensation, you have the right to apply to MTIBU in case of violations by insurance companies.
To check the authenticity of car insurance, you can use the MTIBU service. You can check whether the policy is valid, which insurance company issued it, and other important information by using the car number or the insurance policy number.