OMTPL Insurance Ready for Implementation August 1

The Motor Insurance Bureau of Ukraine announced yesterday that it is ready to provide insurance companies with automobile stickers for policy holders that will indicate obligatory motor third party liability insurance coverage. Starting on August 1, the Ukrainian road police have the right to stop cars without the stickers and fine drivers without valid OMTPL policies. Alexander Viktorov: Enforcement of OMTPL will be a significant driver for the motor insurance segment, particularly if parliament adopts a substantial increase in the fine for drivers without OMTPL policies from the low level of USD 3 currently.