According to current regulations, people participating in traffic by motorbike or scooter without purchasing civil liability insurance will be fined from 100,000 to 200,000 VND.
Voters in Ho Chi Minh City recently proposed that the Ministry of Transport remove this regulation because "if you do not buy, you will be fined by the traffic police, and if you buy and there is a risk, the person with the right will not be properly compensated."
This is not the first time voters have petitioned about this issue. Previously, voters in Da Nang, Long An and many other localities also petitioned the Ministry of Transport to remove the regulation requiring motorbike owners to buy insurance.
Voters in many localities such as Dong Nai, Binh Duong, An Giang, Quang Ninh, Lang Son, Lai Chau... have sent similar petitions to the Ministry of Finance.
Responding to this proposal, the Ministry of Finance still maintains its stance on the need for compulsory insurance for motorbikes. The Ministry believes that compulsory civil liability insurance for motorbikes and motorbikes aims to protect social interests and safety, in line with the general trend of the world.
The latest developments on this issue, the Ministry of Transport stated its views in its response to voters in Ho Chi Minh City. The Ministry of Transport believes that it is necessary to study and amend the Law on Insurance Business drafted by the Ministry of Finance. In the coming time, the Ministry of Transport will coordinate with the Ministry of Finance, relevant ministries and branches to study and complete legal regulations on insurance for road motor vehicle owners to suit the reality.
Expressing opinions on this issue, many readers said that the mandatory requirement to buy motorbike insurance should be removed soon.
Specifically, reader Van Minh Ha said: “Removing this regulation will save people money. Because buying insurance just to “avoid” police fines will be very formal. Meanwhile, waiting for the agencies to assess compensation is extremely difficult.”
Sharing the same opinion, reader Thai Duong was upset: “If you don’t buy it, you will be fined. But when an accident happens, few people get insurance.”
A reader said that the situation of insurance companies making it difficult to pay compensation is common, lacking management and supervision by competent authorities. This person said that compulsory insurance should be changed to voluntary insurance. People who find it practical will voluntarily buy it.
Need for transparency in insurance revenue management
Reader Hiep Ngo said that the purpose of motorcycle and motorbike insurance is correct, but when there is a traffic accident, the procedures of insurance companies are very complicated and cumbersome, and compensation is not satisfactory.
“How many people are covered by insurance? Most people buy it to deal with it, not many people hope to be compensated when they have a traffic accident. Abolishing this regulation is what people want,” said Hiep Ngo.
The regulation requiring motorbike owners to purchase civil liability insurance was issued and applied since 2008. Vietnam is a country where motorbike sales have remained stable over the past 10 years (about 3 million new motorbikes sold each year). With about 65 million motorbikes in circulation, the amount of money vehicle owners have to spend to purchase this type of insurance is not small.
How this money is managed and paid is something that many readers are concerned about. Reader Minh Ha said that from the management agency to the participating parties, there needs to be clear and transparent information.
Sharing the same view, reader Bao Ngoc said that it is necessary to publicize how and where the money collected so far has been spent,... in order to protect public interests, the environment and social security.
Previously, at the press conference for the fourth quarter of 2022, the Insurance Supervision and Management Department (Ministry of Finance) said that by the end of the first 9 months of 2022, the revenue from compulsory civil liability insurance for motorbike and scooter owners reached about VND 1,077 billion. Of which, the compensation amount for compulsory civil liability insurance for motorbikes was VND 27 billion. Thus, the compensation rate on the total revenue of compulsory motorbike insurance is only 2.5%.
It is also the compensation rate of only a few percent that makes many people and experts strongly believe that compulsory insurance for motorbikes should be abolished.
Source
Comment (0)