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Functions of the Guarantee Fund

  /   Functions of the Guarantee Fund

The Guarantee Fund:

  • Establishes and manages the "Fund for Uninsured Motor Vehicles", which pays compensation to injured parties in the event of a road accident with an uninsured or unidentified motor vehicle.
  • Establishes and manages a "Security Fund", through which the guaranteed receivables are paid in case of insolvency of an insurer.
  • Administers a Unified Information System for Risk Assessment, Management and Control, including for issued policies – UISRAMC
  • Establishes and develops an Information Center, through which consumers and victims can receive information upon the occurrence of an event related to compulsory motor vehicle insurance.
  • Actively works to prevent driving without compulsory insurance, including by notifying in writing the owners of motor vehicles without insurance.
  • Assists in improving road safety by supporting and financing projects to provide equipment and information and communication technologies for the needs of the Ministry of Interior.
  • Participates in the development, amendment and harmonization of draft regulations in the field of insurance.