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Regulatory Transformations and Trends in the Development of the Motor Vehicle Insurance Market in Ukraine
Zhuravka O. S., Pihul N. G., Horobets Y. V.

Zhuravka, Olena S., Pihul, Nataliya G., and Horobets, Yelena V. (2025) “Regulatory Transformations and Trends in the Development of the Motor Vehicle Insurance Market in Ukraine.” Business Inform 10:449–458.
https://doi.org/10.32983/2222-4459-2025-10-449-458

Section: Finance, Money Circulation and Credit

Article is written in Ukrainian
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UDC 336.71:368(477)

Abstract:
The aim of this article is to examine the features of State regulation and to conduct a comprehensive analysis of the current State and development trends of the motor vehicle insurance market in Ukraine. The article substantiates the relevance and necessity of developing this segment of the insurance market from the standpoint of ensuring the financial stability of business entities and enhancing the level of social protection for the population. It is emphasized that motor vehicle insurance is one of the key mechanisms for managing and financing the risks of road traffic accidents, providing compensation for losses and financial stability for road users. The article examines current trends in the functioning of the motor vehicle insurance market within the context of regulatory transformations, particularly in connection with the entry into force of the Law of Ukraine No. 3720-IX, which harmonizes national legislation with European Union standards. An analysis was conducted on the dynamics of insurance premiums, claims, and coverage levels for major types of auto insurance (CASCO, OSCPV, «Green Card»). The study results indicated that from 2019 to 2023, auto insurance consistently maintained a leading position in the structure of the domestic insurance market, accounting for over 50% of the total insurance premiums. The largest share of premiums and claims is traditionally provided by CASCO and OSCPV contracts, while the increase in «Green Card» volumes is associated with heightened international travel by citizens and migration processes caused by military actions. Among the main challenges in the industry are high loss ratios in types of auto insurance, the impact of wartime-related risks, and a decline in the population’s purchasing power. It is argued that further strengthening of market positions is possible through the development of innovative insurance products, improvement of risk management mechanisms, and enhancement of the population’s financial literacy. Overall, this will contribute to the development of an efficient, transparent, and socially oriented motor vehicle insurance system in Ukraine.

Keywords: motor vehicle insurance, insurance services market, compulsory civil liability insurance (OSCPV), CASCO, international auto insurance «Green Card», State regulation.

Fig.: 8. Tabl.: 1. Bibl.: 16.

Zhuravka Olena S. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial Technologies and Entrepreneurship, Education and Research Institute for Business, Economics, and Management of Sumy State University (57 Petropavlivska Str., Sumy, 40000, Ukraine)
Email: [email protected]
Pihul Nataliya G. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial Technologies and Entrepreneurship, Education and Research Institute for Business, Economics, and Management of Sumy State University (57 Petropavlivska Str., Sumy, 40000, Ukraine)
Email: [email protected]
Horobets Yelena V. – Masters Student, Sumy State University (57 Petropavlivska Str., Sumy, 40000, Ukraine)
Email: [email protected]

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