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LAW OF UKRAINE

of July 1, 2004 No. 1961-IV

About compulsory insurance of civil responsibility of owners of land vehicles

(as amended on 17-11-2021)

This Law governs the relations in the sphere of compulsory insurance of civil responsibility of owners of land vehicles (further - compulsory insurance of civil responsibility) and is aimed at providing the indemnification caused to life, health and property of the victims in case of operation of land vehicles in the territory of Ukraine.

Section I General provisions

Article 1. Determination of the main terms

In this Law terms are used in the following value:

1.1. insurers - the legal entities and capable citizens who signed with insurers contracts of compulsory insurance of civil responsibility for the harm done to life, health, property of the third parties in case of operation of the land vehicle;

1.2. insurers - the insurance companies having the right to implementation of compulsory insurance of civil responsibility of owners of land vehicles according to the requirements established by this Law and the Law of Ukraine "About insurance";

1.3. the victims - legal entities and physical persons, lives, to health, and/or property of which harm as a result of the road accident with use of the vehicle is done;

1.4. persons whose responsibility is insured - the insurer and other persons who legally own the secure vehicle. Ownership of the secure vehicle is considered lawful if another is not established by the law or the judgment;

1.5. land vehicles (further - vehicles) are device, intended for transportation of people and/or freight, and also the special equipment installed on it or mechanisms, being subject to state registration and accounting in territorial authorities of the Ministry of Internal Affairs of Ukraine and/or allowed to traffic, and also imported on customs area of Ukraine for temporary use, registered in other countries;

In this Law the device falling under the signs noted in this Item, but concerning which the adjusting factor depending on vehicle type is not established is not considered the vehicle.

1.6. owners of vehicles - legal entities and physical persons which according to the laws of Ukraine are owners or legal owners (users) of land vehicles based on the property right, the right of economic maintaining, operational management, on the basis of the lease agreement or legally operate the vehicle on other legal causes;

1.7. the secure vehicle - the vehicle specified in the current agreement of compulsory insurance of civil responsibility on condition of its operation by persons whose responsibility is insured;

1.8. the insurance policy - single form of the internal insurance contract which certifies the conclusion of such agreement;

1.9. bonus-malus - adjusting factor by means of which the insurer adjusts insurance premium depending on whether there were insured events in relation to object of insurance in certain period;

1.10. Authorized body - the National Bank of Ukraine;

1.11. the insurance certificate "Green card" - the insurance certificate of single form applied in the member countries of the international system of automobile insurance "Green card" specified and not deleted in such certificate;

1.12. the road accident - the event which arose during movement of the vehicle as a result of which people died or are wounded or material damage is caused.

Article 2. Legislation on compulsory insurance of civil responsibility of owners of land vehicles

2.1. The relations in the sphere of compulsory insurance of civil responsibility of owners of land vehicles are governed by the Constitution of Ukraine, the Civil code of Ukraine, the Law of Ukraine "About insurance", present and other laws of Ukraine and regulatory legal acts adopted according to them. If regulations of this Law provide other, than provision of other acts of the civil legislation of Ukraine, then regulations of this Law are applied

2.2. If the international treaty of Ukraine which consent to be bound is this the Verkhovna Rada of Ukraine determines other rules, than those which are provided by this Law, then in the territory of Ukraine rules of the international treaty are applied.

Article 3. Purpose of implementation of compulsory insurance of civil responsibility

Compulsory insurance of civil responsibility is performed for the purpose of ensuring the indemnification caused to life, health and/or property of the victims as a result of the road accident and protection of valuable interests of insurers.

Article 4. Subjects of compulsory insurance of civil responsibility

Subjects of compulsory insurance of civil responsibility are insurers and other persons whose responsibility is insured, insurers, Motor (transport) insurance bureau of Ukraine (further - MTSBU), victims.

Article 5. Object of compulsory insurance of civil responsibility and condition of indemnification

Object of compulsory insurance of civil responsibility are the valuable interests which are not contradicting the legislation of Ukraine, connected with compensation by person which civil responsibility is insured of the harm done to life, health, property of the victims as a result of operation of the secure vehicle.

Section II Conclusion of Agreements of Compulsory Insurance of Civil Responsibility

Article 6. Insured event

Insured event is the road accident which happened with the participation of the secure vehicle by which civil responsibility of person whose responsibility is insured, for the harm done to life, health and/or property of the victim is caused.

Article 7. Determination of the size of insurance payment

7.1. The size of insurance payment (fee, award) is established by the insurer independently by the work of the size of basic insurance payment and values of the corresponding adjusting factors which affirm according to Item 7.2 of this Article, and also taking into account provisions of Item 13.2 of article 13 of this Law. The insurer is forbidden to establish or suggest to establish the size of insurance payment calculated by different way.

7.2. The size of basic insurance payment, the list, value of adjusting factors and procedure for their application, affirm Authorized body on representation of MTSBU. Offers of MTSBU concerning the size of basic insurance payment and values of adjusting factors are confirmed by actuarial calculations taking into account loss ratio of this type of insurance in general on industry for the last settlement period which constitutes at least a year, and statistical data. If the Authorized body within 60 calendar days from the date of introduction of MTSBU of the offer did not approve the size of basic insurance payment, the list, value of adjusting factors and procedure for their application, the previous adjusting factors, procedure for their application and the size of basic insurance payment are effective.

7.3. For agreements of the international compulsory insurance of civil responsibility of owners of land vehicles the Cabinet of Ministers of Ukraine establishes the maximum sizes of insurance payments within which MTSBU establishes the single sizes of insurance payments, obligatory for the complete members, under such agreements.

Article 8. Bonus-malus

8.1. For encouragement of accident-free operation of vehicles, in case of the conclusion of agreements of compulsory insurance of civil responsibility more than for half a year, insurers have the right to apply adjusting factor depending on availability or lack of insured events because of persons whose responsibility is insured, during operation of the previous agreements of compulsory insurance of civil responsibility (bonus-malus) which is calculated each of insurers taking into account provisions of Item 7.1 of article 7 of this Law.

 


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