Source: Government takes over third-party motor vehicle insurance
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
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.
Another way for ZANUPF to divert money into their own pockets.
We know how they ruined medical insurance PSMAS, this will end in tears for claimants
These guys They want to take everything from people,,,,thts a lie they won’t be a able to deliver wat they are saying