Swedbank P&C Insurance AS, Latvia branch (with life products via Swedbank Life Insurance SE, Latvia branch)
Swedbank
Swedbank is a motor third-party liability insurance for the Latvia market with online purchase and limited assistance availability.
Direct payment
Swedbank piedāvā "vienošanos par OCTA" - polisi ar automātisku ikmēneša atjaunošanu un apmaksu, kas ļauj klientam maksāt par OCTA ik mēnesi, izlīdzinot izmaksas visa gada garumā, nesadārdzinot kopējo cenu. Automātiskais maksājums no klienta konta palīdz izvairīties no polises termiņa aizmiršanas un pārtraukumiem segumā. Aptuveni 90% Swedbank klientu izvēlas šo vienošanās par OCTA variantu ar automātisku atjaunojumu.
Geographic scope
Latvia
Valid in all EEA countries, Switzerland, Serbia and Andorra.
Coverage limits
Bodily Injury Liability
€6,450,000
Mandatory OCTA liability cover for personal injury caused to third parties, up to EUR 6,450,000 per accident regardless of the number of victims, as set by Latvian law.
Property Damage Liability
€1,300,000
Mandatory OCTA liability cover for damage to third parties' property, up to EUR 1,300,000 per accident regardless of the number of third parties, as set by Latvian law.
Green Card / Territorial Validity
Covered
An OCTA policy is automatically valid in all EEA countries, Switzerland, Serbia and Andorra without a separate Green Card; a physical Green Card may still be needed for other countries.
Roadside Assistance
No limit stated
Not evidenced for the OCTA (MTPL) product specifically; unlimited 24/7 roadside assistance is advertised for the CASCO product, not confirmed for OCTA.
Passenger Accident Cover
Covered
Passengers injured in an accident are covered as third parties within the general bodily-injury liability limit; no separate passenger accident sum is stated.
Key conditions
Territorial scope
The OCTA policy issued in Latvia is valid in all EEA countries, Switzerland, Serbia and Andorra.
Green card rules
No separate Green Card is required within the EEA, Switzerland, Serbia and Andorra; a Green Card may be required for travel to other countries outside this zone.
Driver restrictions
The OCTA policy covers the civil liability of the vehicle, regardless of which authorised driver was operating it at the time of the accident; no insurer-specific driver age or experience restriction is stated for this mandatory product.
Claim notification deadline
If the policyholder's vehicle is found fully or partly at fault for the accident, the policyholder must notify their insurer no later than 10 days from the accident, submitting the completed accident report form if one was used.
Bonus-malus rules
The OCTA premium is influenced by the driver's bonus-malus class, meaning drivers with a better accident-free history pay less for their policy.
Policy specifics
Third Party Liability Coverage
Mandatory coverage for damages caused to third parties' property and bodily injury in traffic accidents
SourceAutomatic Policy Renewal
Swedbank offers automatic renewal of OCTA policies, available for monthly or annual payment terms
SourceClaims Notification Deadline
Policyholder must notify insurer within specific timeframes after traffic accident for property damage and personal injury claims
SourceEuropean Economic Area Coverage
OCTA policy issued in Latvia is valid in all EEA countries, Switzerland, Serbia, and Andorra
SourceMandatory Information Provision to Insurer
Policyholder must provide accurate, truthful and complete information about themselves and vehicle before and during the insurance contract term
Source