Sayenko Kharenko's antitrust team has provided legal
assistance to secure Antimonopoly Committee of Ukraine (the
"AMC") clearance for the introduction of
a new direct claims settlement agreement between the Motor
(Transport) Insurance Bureau of Ukraine (MTIBU)
and insurer members of the MTIBU.
The agreement introducesa new system for
claims settlement. This system allows the affected person to apply
for the settlement of claims to their specific insurer, which is
subject to the executed compulsory motor vehicle liability
insurance agreement. As a result of the adoption of this new
system, the potentially affected person will now be able to choose
an insurer in advance according to the required criteria, and will
have assurances that when any insurance-related event occurs,
timely compensation will be guaranteed. On the other hand, the
insurer will be motivated to provide high-quality services by
offering full coverage and settling client claims in a timely
manner based on the terms of contractual relations between them.
The insurers will be encouraged to compete not only by price, but
also in terms of the quality of their services.
Similar direct claims settlement systems
successfully operate in many developed insurance markets such as:
France, Belgium, Italy, and other European countries. The system
developed by MTIBU is based on advanced European experience and
aims to develop the domestic market of motor vehicle liability
insurance in line with the best international practices and
The agreement was signed by 18 insurance
companies that are members of MTIBU: "AXA Insurance",
"ARSENAL INSURANCE", "PZU Ukraine",
"VUSO" "UASK ASKA", "ORANTA",
"PROVIDNA", "INGO Ukraine",
"Universalna", "International Insurance
Company", "CREDO", "ASKO-Donbass
Pivnichnyi", "Kolonneyd Ukraine",
"BROKBUSINESS", "IC KRAYINA". On 1 February
2017,IC "European Insurance Alliance" also signed up to
The AMC granted approval for concerted
practices on 27 October 2016 for a two-year term. The corresponding
decision of the AMC was granted after a thorough investigation of
the impact of the proposed concerted practices on the market of
motor vehicle liability insurance services in accordance with the
law on the protection of economic competition, and after
consideration of the anticipated favourable impact of these direct
claim settlement practices on the market.
Sayenko Kharenko's antitrust team for the
current project included senior associate
Valentyna Hvozd and associate Anastasiіa Bodnar. The
team was led by partner
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