According to a representative of the Ministry of Finance, in fact, motorbikes and motorbikes are still the main source of transportation. Therefore, compulsory insurance for civil liability of motor vehicle owners, including motorcycles and motorbikes, is a low-cost financial security solution for vehicle owners.
Also according to the Ministry of Finance, the regulation to buy compulsory civil liability insurance for motorbikes and motorbikes is necessary and in accordance with the provisions of the law, meeting the practical needs to protect the interests and general social safety, in line with the general trend of the world.
Regarding the legal basis, the purchase of compulsory civil liability insurance for motorcycle and motorbike owners is based on the provisions of the Law on Insurance Business and the Law on Road Traffic.
The Ministry of Finance believes that buying compulsory civil liability insurance for motorbikes and motorbikes is necessary and in accordance with the law.
According to the Ministry of Finance, statistics show that the number of traffic accidents caused by 2-wheelers, mopeds and mopeds accounts for about 70% of the total number of road traffic accidents. Therefore, compulsory insurance for civil liability of motor vehicle owners, including motorcycles and motorbikes, is a financial security solution for vehicle owners with low cost (55,000 – 60,000 VND) and high compensation liability. (up to 150 million VND).
In order to promote the role, social significance and humanity of motor vehicle owners’ civil liability insurance, since 1988, the Government has also regulated this type of insurance as a compulsory insurance and in turn promulgate Decrees related to this issue. The Ministry of Finance said that many countries around the world have also implemented this type of insurance in a mandatory form.
The Ministry of Finance also said that Decree 03 also clearly stipulates the responsibility of providing insurance claim documents of the parties, and the time limit for compensation payment. This Decree has also been simplified, creating favorable conditions for insurance payment and compensation.
According to the Decree, compensation procedures will be minimized, even if the accident is at fault or not, within 3 days of receiving notice of the accident. In case of accident, the insurance enterprise must advance 10 – 70% of the compensation level, depending on the extent of damage to the victim’s health and life.
The most important procedure to be abolished is that there is no need for documents of the police agency such as: minutes of scene examination, scene diagram, notification of results of investigation, verification, settlement of the accident or notice of the accident. Report the conclusion of the investigation and settlement of the accident in the compensation file, except in the case of the victim’s death…
Bao Linh (th)