ID :
64665
Mon, 06/08/2009 - 10:29
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https://oananews.org//node/64665
The shortlink copeid
New tariff for motor insurance presented
(KPL) New annual tariffs and coverage for the third Party Liability of Compulsory Motor Insurance were introduced for publics on 3 June at press conference held by Ministry of Finance (MOF) and Lao National Bureau of Insurance.
New annual tariff and coverage for the third Party Liability Insurance were upgraded to protect the bodily injury and property damage to victims of accidents, said Chief of Lao National Bureau of Insurance, Mr Holady Volarath.
New annual tariffs will be only 79,000 kip per year for motorbikes (less than 125cc), 190,000 kip for three wheeled vehicles, 200,000 kip for a sedan or pick up, and 345,000 kip for a truck or bus.
The Lao National Bureau of Insurance will provide up to 101.4 million kip of compensation per accident where the insured party is at fault
This is one of new policies of Lao National Burreau of Insurance, he said.
Victim will be entitled to up to 12 million kip in the case of permanent disability or death, 1.8 million kip for medical expanses and 5.2 million kip worth of material damages.
Under the old system, the insurance policies only covered up to 10 million kip worth of compensation per accident, he said.
So far, the policies provided individuals only 3 million kip in the case of permanent disability or death and 1.8 million kip for medical expenses. The material damage was not covered in the old policy he said.The new motor compulsory insurance will now cover both bodily injury and material damages to the victim in order to increase the indemnity to the victims of road accident, he said.
He said that this is the good news for everyone because the AGL’s compulsory motor is not expensive.
“The compulsory motor is affordable for everyone”, he added.
This is to increase the indemnity to the victims of road accident, the new motor compulsory insurance will now cover both bodily injury and material damage to the victim, he said.
He said that according to the insurance law, all vehicles must have insurance to cover victims in case of road accidents.
New annual tariff and coverage for the third Party Liability Insurance were upgraded to protect the bodily injury and property damage to victims of accidents, said Chief of Lao National Bureau of Insurance, Mr Holady Volarath.
New annual tariffs will be only 79,000 kip per year for motorbikes (less than 125cc), 190,000 kip for three wheeled vehicles, 200,000 kip for a sedan or pick up, and 345,000 kip for a truck or bus.
The Lao National Bureau of Insurance will provide up to 101.4 million kip of compensation per accident where the insured party is at fault
This is one of new policies of Lao National Burreau of Insurance, he said.
Victim will be entitled to up to 12 million kip in the case of permanent disability or death, 1.8 million kip for medical expanses and 5.2 million kip worth of material damages.
Under the old system, the insurance policies only covered up to 10 million kip worth of compensation per accident, he said.
So far, the policies provided individuals only 3 million kip in the case of permanent disability or death and 1.8 million kip for medical expenses. The material damage was not covered in the old policy he said.The new motor compulsory insurance will now cover both bodily injury and material damages to the victim in order to increase the indemnity to the victims of road accident, he said.
He said that this is the good news for everyone because the AGL’s compulsory motor is not expensive.
“The compulsory motor is affordable for everyone”, he added.
This is to increase the indemnity to the victims of road accident, the new motor compulsory insurance will now cover both bodily injury and material damage to the victim, he said.
He said that according to the insurance law, all vehicles must have insurance to cover victims in case of road accidents.
