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Car insurance: the main points
Car insurance: the main points "You call on God, but you have to do it yourself". This proverb is very applicable to the topic of risk insurance. When you buy a car, you want to think only about the positive aspects of its use. And this is correct. However, you should not forget that a car is a means of increased danger and, therefore, increased responsibility. After all, its operation involves risks of harm to the vehicle itself, its owner, and third parties. Therefore, we hope for the best, but do not forget about the need to insure our liability (possible risks and losses). The legislator also thought about this, providing for mandatory forms of insurance for vehicle owners. In addition to compulsory insurance, no one deprives car owners of the right to additionally use voluntary insurance. In this section, we will consider in detail all the most important issues that may be related to vehicle insurance. Insurance is a rather specific type of activity. Therefore, bef...
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New technologies in life insurance
New technologies in life insurance The insurance market is becoming increasingly digital. More and more insurance products are being sold online, remote claims settlement services are being developed, and new insurance products are being offered. Against this backdrop, the life insurance segment stands out somewhat, driven by savings and investment insurance products. Obviously, these are not the types of insurance that can be successfully marketed remotely through online channels due to individual customer requirements and the need for professional advice from the insurer. However, innovative technologies in the insurance sector - InsurTech - make it possible to implement various solutions in this segment that allow the company and its agents to promote "life" more effectively and make this service more understandable, convenient and personalized for customers. First of all, digitization makes it possible to simplify communication with the customer during the life of the...
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Complaints of car owners against insurers and what MTIBU does
Why car owners complain about insurers and what MTIBU does How well do MTPL insurers fulfill their obligations, to whom can you complain about them, and will these complaints make a difference? These are the questions that car owners face when choosing an insurer and in case of problems with payments. Volodymyr Shevchenko, Director General of MTIBU, helped us to understand these topics. How to assess the quality of work and reliability of the insurer The MTIBU website publishes a quarterly traffic light graphic. Using a simple color display, it shows an integrated assessment of each insurer based on three main indicators: "overall performance assessment", "quality of settlement", and "level of complaints". The MTIBU also prepares detailed information on the performance of each MTPL insurer on a quarterly basis (number of contracts, amount of premiums, number and amount of claims, average payment period, number and level of complaints, etc.) This data...
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Accident perpetrator without insurance - what should the victim do?
Accident without insurance - what to do with the victim Sad statistic: About half of the car owners do not consider it necessary to take out an insurance policy. This is despite the fact that the law makes it illegal to drive a vehicle without MTPL insurance. Violating the law seems to be advantageous for drivers: the fine is often less than the cost of insurance. But what should the victim do if the person who caused the accident has no insurance and refuses to pay? Who will pay for the damage? How an insurance policy works If the owner of a car with a formalized MTPL becomes the culprit of the accident, the policy covers payments to the injured party. If the person who caused the accident has no insurance, there will be no one to compensate for the damage. What can you do? However, according to the law, the perpetrator of the accident is still obliged to take responsibility. It is necessary to pay for the repair of the victim's car, a fine for lack of insurance, to compensa...
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Liability Insurance
Liability insurance Civil liability insurance (other than that provided for in paragraphs 12-14 of Article 6 of the Law of Ukraine "On Insurance") is a type of insurance other than civil liability insurance of owners of land, air and water transport (including carrier's liability), where the subject of the insurance contract are property interests that do not contradict the law on compensation for damage caused by the insured or another person whose civil liability is insured to life, health, ability to work or property of third parties. This type of insurance provides for the Insurer's obligation to pay indemnification in accordance with the terms of the insurance policy for damage caused to the life, health, working capacity and/or property of a third party by the person whose civil liability is insured as a result of his/her activities as specified in the insurance regulations and the insurance policy. Watercraft Owners' Liability Insurance (including Carr...
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