The Verkhovna Rada of Ukraine on January 12 at first reading adopted bill No. 8300 on compulsory insurance of civil liability of land vehicle owners, the parliament reported.

The draft law proposes to gradually increase the amount of sums insured (the maximum amount of insurance payment) to the amounts established in the countries of the European Union, to introduce the rapid implementation of guarantee payments to injured persons for bankrupt insurers (60 days).

In addition, it proposes to introduce direct settlement in all cases of traffic accidents in which only the vehicle is damaged, which will allow the injured person to apply for insurance payment from his insurer. It is planned to determine the procedure for calculating the amount of insurance payment without taking into account depreciation and making insurance payments in the amount necessary to restore the vehicle.

It is planned to introduce free pricing, reduce the period for consideration of an application for an insurance payment from 90 to 60 days from the date of filing an application for an insurance payment, establish an exhaustive list of documents required to receive an insurance payment and grounds for refusing to make it.

As reported, the bill on compulsory insurance of civil liability of vehicle owners, which significantly changes the conditions of the functioning of the market, was registered in the Verkhovna Rada on December 22, 2022 under No. 8300. Its authors are head of the parliamentary committee on finance, taxation and customs policy Danylo Hetmantsev and 11 MPs.