The hope of the insurance industry for the amendment of the third party insurance law

According to the financial news report, quoted by the General Directorate of Public Relations and International Affairs of the Central Insurance, Majid Meshalachi, the spokesman of the Central Insurance, stated that the main origin of the concept of conventional and non-conventional cars is Article 8 of the Third Party Insurance Law and stated that for more than a decade, the increase The movement of luxury and expensive cars on the country’s streets has caused concern for drivers because the value of some of these cars has exceeded the life capital of many members of the society, and in case of an accident, it will be difficult and sometimes impossible to compensate for possible damages for countless people.

The deputy official of Central Insurance added: This concern made the members of the Islamic Council, during the review of the recent third-party insurance law approved in 2016 with the aim of protecting the less privileged people in the society, inevitably limit the financial liability limit of the culprit of the traffic accident to half of the payment. Full Muslim men in Haram months, in Note 4 of Article 8 of the Third Party Insurance Law, divide cars into two conventional and non-conventional groups. In this way, the cars whose value is more than 50% of the full down payment were considered unconventional cars.

With this definition, any car whose value in 1402 is more than 600 million tomans is considered unconventional. This is despite the fact that at the time of the approval of the law, many types of cars in circulation in the country, including manufactured, domestically assembled and imported cars, were considered conventional cars, but with the passage of time, even more cheap domestically produced cars joined the group of unconventional ones. In order to solve this problem, the Central Insurance of Iran submitted a bill to amend Article 8 of the aforementioned law to the Islamic Council, but unfortunately, it has not been approved yet.

Meshalachi expressed his hope that the representatives of the Islamic Council, understanding the problems that the implementation of this law has created for the society and the financial victims of third-party insurances, will act on the approval and notification of the said amendment as soon as possible.