Government takes over third-party motor vehicle insurance

Source: Government takes over third-party motor vehicle insurance

THE Government is finalising new regulations to set up a State-controlled third-party motor vehicle insurance scheme that will assume the responsibility of underwriting compulsory vehicle liability insurance, currently handled by private insurers.

The regulations, set to be unveiled next month, will see private insurers relinquishing their role in underwriting third-party motor vehicle insurance, which is compulsory in terms of the Road Traffic Act.

Presently, it covers death, injury and damage to property in road traffic accidents.

The authorities believe the coverage offered by private insurers is insufficient and often leaves policyholders with additional expenses, especially when claims are made after accidents.

Conversely, the State-backed scheme is envisaged to offer a broader range of benefits, including covering medical expenses incurred following accidents; financial compensation for injuries sustained in accidents; funeral grants in the event of an accident-related death and compensation for lost income due to injuries.

 

COMMENTS

WORDPRESS: 4
  • comment-avatar
    Dr Ace Mukadota PhD 3 weeks ago

    This will simply be a disaster and a money pit that ZANUPF steals from. The public will see no money and suffer badly after road accidents. Just a new govt insurance company – another fat egg that the comrades can loot comrades.

  • comment-avatar

    Another way for ZANUPF to divert money into their own pockets.

    • comment-avatar
      Citizen 3 weeks ago

      We know how they ruined medical insurance PSMAS, this will end in tears for claimants

  • comment-avatar
    Manuel 3 weeks ago

    These guys They want to take everything from people,,,,thts a lie they won’t be a able to deliver wat they are saying