Some 85 per cent of vehicles in Ethiopia to get coverage against third-party risks
Addis Ababa, 27 December 2013 (WIC) – Insurance Fund Administration Agency (IFAA) said 85 per cent of the vehicles in Ethiopia will get coverage against third-party risks this fiscal year.
Agency Public Relations Coordinator Head, Zewdu Wondim, told WIC activities are underway to insure 404,000 vehicles out of the 500,000 vehicles in the country in the reported period.
According to Zewdu, up to 25 per cent of the vehicles in the country have already been insured.
In a related development, more than 491,000 birr was paid in compensation for victims of accidents on the road during the past one year, he said.
Based on the third-party risks proclamation, from 2,000 to 40,000 birr will be paid in compensation for bodily injury by cars that have not be covered under third-party risks, he said. From 5,000-40,000 birr will be paid for death.
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