THE CHALLENGES OF THE PROVISION OF COMPULSORY INSURANCE BY MOTORCYCLE OWNERS

Abstract

Road Accident Victims Protection Act 1992 is a law aiming for protecting the people and providing with securities for the road accident victims in forms of protection. However, in the present, there is a multitude of motor vehicles, for which compulsory insurance is not procured, especially motorcycles, resulting from several causes, for example, problems with enforcement of the law against persons, who fail to procure the compulsory insurance, problems with rates of penalties, problems with recouping initial damages advanced by the Victim Compensation Fund, problems with coordination of operating data between the competent agencies and the Office of Insurance Commission, problems with the people lacking knowledge and awareness of observing the traffic regulations. Thus, a study needs to be conducted to survey opinions and propose approaches to solving the problems and providing with measures for promoting procurement of compulsory insurance for the motorcycles, in order to solve the problems and minimize the number of the motorcycles without the compulsory insurance.