Motor Insurers’ Bureau of the Republic of Lithuania functions as National Insurers’ Bureau, Guarantee fund, Compensation body and Information centre as one entity.
All vehicles used in the territory of the Republic of Lithuania must be covered by compulsory motor third party liability insurance. A vehicle normally based in the territory of the Republic of Lithuania must be covered by motor third party liability insurance as long as the vehicle is registered.
The minimum sum insured under compulsory insurance in the Republic of Lithuania, whatever the number of injured third parties is 6.450.000 euros for personal injury (including non-pecuniary damage) and 1.300.000 euros for damage to property.
The responsible insurer and/or the Bureau are obliged to pay compensation within 30 days from the date on which the claim was presented. If, within 30 days, it is impossible to investigate the necessary circumstances to establish the fact of the insurance event and to assess the size of the damage, the compensation shall be paid within 14 days from the date when investigation of such circumstances could have been completed by making reasonable effort, but not later than within 3 months from the date on which the claim was presented.
According to the Civil Code of the Republic of Lithuania the limitation period for legal proceedings against the insured or the insurer is 3 years. Three years limitation period is counted from the date when a claimant learnt about the loss and about the person liable for the loss.
Member companies of Motor Insurers’ Bureau of the Republic of Lithuania are not authorized to issue Lithuanian Green Cards in other territories where National Motor Insurers’ Bureau does not exist.