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Compulsory Automobile Liability Insurance rate will stay the same in 2019

According to the actuarial result of the 2018 Compulsory Automobile Liability Insurance (“compulsory insurance”) rate actuarial report, the FSC found that, under the current insured amount and rate, automobile and motorcycle pure premium overall needs to be raised by 4.28%. However, after reporting this to the Compulsory Insurance Rate Review Committee, it was decided by the Committee that the rate in 2019 will stay the same as at present, to avoid increasing the public’s burden and take into account the fact that the Compulsory Insurance Special Reserve is still adequate. The FSC stated that it will continue to review the compulsory insurance rate on the basis of actual experiential data to allow this insurance to operate sustainably.

Visitor: 135   Update: 2019-04-23
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