LTAB

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... 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... The association Motor Insurers' Bureau of Latvia (hereinafter referred to as the..