The Motor (Transport) Insurance Bureau of Ukraine (MTIBU) will introduce new tariffs for Green Card policies for those travelling abroad by car on February 12, 2015.

According to a bureau report, the MTIBU recalculated the cost of Green Card policies upwards by 42.7%.

The cost of the policies had been revised downwards on January 21, 2015 – by 5%.

Since 2009, there have been two types of Green Card policies: for the whole of Europe, and for Belarus, Moldova and Russia.

The bureau said that the price of a Green Card policy for a 15-day trip to Europe by car from February 12 is to be UAH 646 (previously UAH 453), by bus UAH 2,428 (UAH 1,702), by truck UAH 1,524 (UAH 1,068).

A Green Card for a one-month trip by car will cost UAH 1,029 (previously UAH 721), by bus UAH 3,373 (UAH 2,364), and by truck UAH 2,024 (1,418).

The price of a Green Card policy for six/twelve months for passenger cars will be UAH 4,568 and 5,655 respectively, for buses UAH 11,807 and UAH 21,927, for trucks UAH 9,580 and UAH 18,081 respectively.

The price of trips to Belarus, Moldova and Russia by car for 15 days will be UAH 471 (previously UAH 330), for a month UAH 692 (UAH 484), for six months UAH 1,588 (UAH 1,113), for 12 months UAH 2,261 (UAH 1,584).

Rates on one-time insurance premiums under agreements of international compulsory insurance of car owners' civil liability were defined by Ukrainian Cabinet decree No. 5 dated January 6, 2005, and are calculated in Euros.

The Green Card system provides insurance coverage for those affected by a traffic accident regardless of their country of residence and the country of vehicle registration. The Green Card operates in 44 countries in Europe, Asia and Africa.

According to the decision made by the General Assembly of the Council of Bureau of the Green Card system in Luxembourg in May 2004, Ukraine became a full member as of January 1, 2005.