How to become a member?

• To become a Motor Insurers Bureau (LTAB) member, the insurance company must submit an application and make a one-time contribution of EUR 7000 to the Guarantee Fund, as specified in Clause 9 of Cabinet of Ministers Regulation No. 195 of 22 March 2005 “Procedures for the Establishment, Accumulation and Administration of the Guarantee Fund for the Compulsory Third Party Liability Insurance of Land Vehicle Owners”.
• The following must be attached to the application:
1) a copy of the articles of association and registration certificate of the insurance company;
2) a certificate from the state register of authorized signatories of the insurance company.
• If the insurance company has made a contribution to the Guarantee Fund and submitted the above-mentioned application, LTAB The Board shall review the application within 1 (one) week and immediately convene a LTAB A meeting of members, which decides on the admission of the applicant for LTAB member.
• No later than 2 (two) business days from LTAB Decision-making at the members' meeting, LTAB Board of Directors for LTAB The acceptance of membership is announced to the newly admitted person. LTAB member, the Bank of Latvia, the Ministry of Finance and others LTAB members.
• LTAB in the membership register for the newly admitted LTAB The member shall indicate the following information: name, registration number, address, electronic mail address, first name, last name and personal identification number of the authorized persons.
• LTAB the member is granted the rights and privileges granted by the laws of the Republic of Latvia and LTAB the rights of a member specified in the statutes from the moment the newly admitted member LTAB the member is notified LTAB The decision made by the members' meeting on the admission of the insurer as LTAB member.