Complicated motorcycle insurance claim procedures, what does the Ministry of Finance say?
The Insurance Supervision and Administration Department (Ministry of Finance) has just sent a written reply to voters in An Giang province on the issue of compulsory civil liability insurance for motor vehicle owners.
Voters of An Giang province recommend state management agencies to work with business companies motorcycle insurance research to reduce procedures when settling insurance claims. Because according to voters, when a traffic accident causes property damage or personal injury or property injury to a third party, according to the agreed limit of liability, the settlement of compensation is still pending. faced many difficulties and cumbersome procedures.
Voters reflect that it is still difficult and cumbersome to handle motorcycle insurance compensation procedures. Illustrations
Responding to voters, the Insurance Management and Supervision Department said that on the basis of summarizing and evaluating the actual implementation in the past time, in order to reduce procedures, strengthen the work of advance payment, compensation settlement. insurance, ensure the rights and facilitate the implementation of compulsory insurance for civil liability of motor vehicle owners, including motorbikes for people, on January 15, 2021, the Government issued Decree 03/2021/ND-CP on compulsory insurance for civil liability of motor vehicle owners.
Thereby, the insurance claim file has been reduced compared to the past, and at the same time, it has increased the initiative and self-responsibility of the insurer in settling insurance claims. In particular, only documents of the police agency are collected in fatal accidents for third parties and passengers (according to the old regulations, in all cases, these documents must be collected).
In addition, to speed up the settlement of compensation, Decree No. 03 has added regulations on the responsibility of the Ministry of Public Security to direct the forces to provide copies of documents related to traffic accidents in the city. within 5 working days from the date of the investigation results.
Regarding research on reducing insurance claim procedures for motorbikes, currently, the Ministry of Finance is submitting to the Government a draft Decree on compulsory insurance to synchronize with the Law on Insurance Business in 2022.
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Accordingly, the Ministry of Finance is submitting to the Government a number of solutions to increase the insurance claim rate for motorbikes. Specifically, about insurance claim documents, including documents related to the vehicle and driver, the draft Decree supplemented that the insurance buyer can provide in the form of a photo copy for simplicity. indemnification of insurance claims.
For documents proving damage to property, the draft Decree additionally stipulates that the insurance buyer provides evidence to prove the repair or replacement of damaged property in the absence of invoices or proofs. from.
Along with that, supplementing the regulation of 15% fee reduction for vehicles with a low claim history to create initiative of insurers and insurance buyers in risk assessment (previously there was no regulation on insurance policy). fee reduction).
The Ministry of Finance also proposes to expand the scope of humanitarian assistance to include cases not covered by insurance; increase the level of support for cases of total disability, this proposal aims to further boost humanitarian aid spending and enhance policy effectiveness.
At the same time, insurance liability is only excluded in the case of a driver operating a motor vehicle with an alcohol content in his blood or breath exceeding the normal value according to the guidance of the Ministry of Health (According to the provisions of Decree No. 03/2021/ND-CP, drivers operating a motor vehicle with alcohol in their blood or breath causing an accident will not be compensated.
The draft Decree also requires insurers to convert to digital technology in performing loss assessment to speed up the settlement of insurance claims. Supplementing regulations that insurers are obliged to record calls to hotlines.
According to the Department of Insurance Management and Supervision, in 2022 and early 2023, the Ministry of Finance has sent Official Letters to the Vietnam Insurance Association, the Motor Vehicle Insurance Fund and insurance businesses requesting the following documents: Insurance enterprises proactively inspect and review professional processes of compulsory insurance for civil liability of motorcyclists and motorbike owners to ensure compliance with legal regulations.
Previously, at the press conference of the fourth quarter of 2022 of the Ministry of Finance in January 2023, the reporter of Newspaper Workers questioned the revenue of compulsory civil liability insurance of motor vehicle owners in 2022 and the amount spent on compensation.
Responding to this content, the leader of the Department of Insurance Management and Supervision, said that the revenue of compulsory civil liability insurance of motor vehicle owners in the first nine months of 2022 is estimated at about VND 3,971 billion, of which cars about 2,894 billion VND; motorbikes and motorbikes reached about 1,077 billion VND.
The amount of compensation for compulsory civil liability insurance for all motor vehicles (cars and motorbikes) is about 750 billion VND, of which cars are 723 billion VND and motorbikes are 27 billion VND. Regarding the provision for compensation for losses that have not yet arisen according to regulations is 308 billion VND, of which cars are 225 billion VND, motorbikes are 83 billion VND.
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