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On 13 December 1995 the Traffic Bureau of the Republic of Latvia was established in conformity with Cabinet of Ministers Regulations No. 369 of 28 November 1995 “The Regulations of the Traffic Bureau”, in order to set up the system of Third Part Liability Insurance for inland motor vehicle owners (further referred as MTPLI) and to ensure its operation in the country. The Traffic Bureau was a state entity operating under the supervision of the Ministry of Finance.
In reality the formation of the MTPLI system started already in the beginning of 1995, when the institution of the Ministry of Finance “The Insurance Supervision Inspection” was asked to start the preliminary work for creating a TPLI system.
The Cabinet of Ministers Regulations No. 214 “The Provisions on the Compulsory Third Part Liability Insurance for inland motor vehicle owners” dated 18 July 1995 were elaborated adopting the methods of Estonian Traffic Insurance Fund. In order to introduce the necessary changes and amendments that emerged during the elaboration of the MTPLI system, the Cabinet of Ministers on 6 August 1996 adopted new Regulations No.300 with the same title.
The operation of the MTPLI system in Latvia was introduced on 1 September 1997 when the Law on the Third Party Liability Insurance for Inland Motor Vehicle Owners adopted in Saeima of the Republic of Latvia on 25 March 1997 came into force in its entirety. The insurance of motor vehicle owners’ third party liability and the payment of insurance indemnities to the persons suffered in the road traffic accidents begun on 1 September 1997.
On 1 July 1998 Latvia became an official member state of the Green Card system and the Traffic Bureau of Latvia – a National Bureau of Latvia in the Green Card system. The collaboration of the Traffic Bureau on an international level started (please see also “Green Card system”).
Essential changes in the operation of the MTPLI system were introduced when Latvia joined the EU. On 1 May 2004 the new Law on the Third Party Liability Insurance for Inland Motor Vehicle Owners (adopted in Saeima of the Republic of Latvia on 7 April 2004) came into force. This Law complied with the demands of the EU Directives and foresaw the termination of the functions of Traffic Bureau of the Republic of Latvia as a state entity, as well as the foundation of a new association registered in Republic of Latvia – the Motor Insurers’ Bureau of Latvia. The association Motor Insurers’ Bureau of Latvia was registered by the Register of Associations and Foundations of the Republic of Latvia on 30 August 2004.
The association Motor Insurers’ Bureau of Latvia (hereinafter referred to as the Bureau) took over the property and liabilities of the Traffic Bureau, as well as the security of liabilities. It is an association registered in compliance with the legislation in force, and it consists of all the insurance companies, which are entitled to perform compulsory third party liability insurance of motor vehicle owners in the Republic of Latvia.
The management bodies of the Latvian Motor Insurers’ Bureau are the General Meeting and the Board.
The competence, rights and obligations of the Bureau are defined by the Law on the Third Party Liability Insurance for inland motor vehicle owners and the statute of Bureau.
The action of Bureau complies with the Law on the Third Party Liability Insurance for inland motor vehicle owners, the statute of Bureau, demands of other normative acts that are in force in the Republic of Latvia as well as the decisions of the General Meeting and the Board.
The objective of the Bureau is to ensure the protection of third persons’ interests that have suffered in a traffic accident as well as to promote the stability and development of the compulsory third party liability insurance for inland motor vehicle owners.
The Bureau is a holder of the Guarantee Fund of the third party liability insurance for inland motor vehicle owners. The Bureau handles the Guarantee fund, decides and accounts for the expenditure of funds in conformity with the legislation in force in Latvia.
The Bureau performs the functions of the Green Card Bureau of the Republic of Latvia and is the member of the Council of Bureaux of the Green Card system.
The Bureau performs the functions of the Information Centre and Compensation Body in conformity with EU Motor Directive No.4.
The Bureau is organizing the certification and training (improvement of professional skill) of technical experts in third party liability insurance for inland motor vehicle owners.