The Draft Law on compulsory insurance of civil liability of owners of land vehicles (registration number 8300) is registered by the Verkhovna Rada of Ukraine.
The Draft Law proposed by a group of MPs has incorporated and improved the norms and procedures of the current law, which have already proved their effectiveness. At the same time, a number of reformatory norms were presented, which are designed to facilitate and speed up the process of settling insurance claims for all its participants, and in general to ensure the effective performance of the civil liability insurance system of the functions assigned to it, strengthening the insurance protection of car owners and accident victims.
The main innovations of the draft law are the gradual increase of insurance payments to European standards, improvement of the terms of settlement of insured events, and improvement of the level of customer service through the receipt of insurance payments from the insurer with which the “motor third party liability” contract is concluded, and the introduction of free pricing.
NAIU fully supports this legislative initiative, as its final version is the result of painstaking coordinated work of experts and the community of the National Association of Insurers of Ukraine, the National Bank of Ukraine and the relevant Committee of the Verkhovna Rada of Ukraine. The process of creation and approval, as well as the text of the registered draft law embodies an effective consensus of the interests of car owners, victims, insurers, the Regulator and the Legislator.
We wish the adoption of this document as soon as possible so that each participant of the legal relationship can take advantage of the best achievements of the updated law.
