The research of the article is aimed at highlighting the essence and features of the functioning of the car insurance market in Ukraine. The study found that motor insurance is associated with profound economic and social changes in society due to mass motorization, the growth of the car fleet and traffic intensity, as well as huge material losses as a result of road accidents.
It should be noted that freight transport is developing quite rapidly both within the country and abroad. At the same time, an increase in the number of intercity bus transportation, excursion and tourist bus services has been established, and as a result, international motor tourism is growing. It is proved that these factors contribute to the growth of accidents, losses in the transportation of goods, increase accidents with passengers and pedestrians on highways and, accordingly, material and social losses of society, population, commercial and government agencies.
It is substantiated that insurance in general and civil liability insurance, as its integral part, is an infrastructure that helps to increase the efficiency of all areas of business. This determines the importance of the development of all types of insurance in Ukraine, taking into account the process of integration into the world community. It is established that the development of insurance market in our country should be based on the study and balanced use of experience of industrialized countries with long traditions in the insurance market, legal regulation of insurers and diversification of various types of insurance.
However, it should be borne in mind that the world community has invented universal means of compensation, which is the most popular type of liability insurance worldwide – is the insurance of civil liability of owners of land vehicles. It provides for the payment of monetary compensation to the victim in the amount that would be collected from the owner of the vehicle on a civil lawsuit in favor of a third party for damage to life and health, as well as for damage or loss of property due to an accident or other road – transport accident due to the fault of the insured.
Given the state and prospects of motorization in our country, as well as foreign experience in insurance market, we can say with confidence that liability insurance is one of the leading areas among other types of insurance. However, in its organization and implementation there are many different problems of legal, social, economic and organizational type.
Recommendations on the prospects for the development of civil liability insurance of owners of land vehicles in Ukraine are given.
The Application of Bühlmann‑Straub Model with Data Correction for the Estimation of Net Premium Rates in Bonus‑Malus Systems of the Motor Third Liability Insurance