Third party insurance tariff for all types of vehicles for the year 1401 was announced
According to a report by Iran Economist of Central Insurance on Tuesday, in implementation of Article (3) of the “Regulations for determining the ceiling of third party insurance and how to reduce, increase or divide it – approved by the Cabinet in 1996” subject to Article (18) of the Law To the third party due to accidents caused by vehicles – approved in 1995 “, the Supreme Insurance Council in its meeting on March 16, 2014 according to the Central Insurance report on the performance of the third party insurance field in 1999 and in terms of social considerations and government policies to control inflation. Decided that the Central Insurance should regulate and announce the insurance premium tariff of the mentioned field in such a way that the increase in the amount of Rials in 1401 compared to 1400 is equal to four percentage points less than the percentage increase in the amount of Rials.
According to this report, the Central Insurance was obliged to calculate the tariff table of the basic insurance premium and notify the insurance companies after announcing the amount of Rials ransom by the Judiciary.
In this communiqué and in order to implement this decree, insurance companies were obliged to observe the following:
– According to the announcement of the amount of Rials for 1401 by the Judiciary, which guarantees a 25% increase in the amount of Rials, all insurance companies are required to provide third-party insurance policies whose coverage date is from the date of notification of this circular and after. Issue physical obligations of 800 million Tomans (equivalent to the blood money of forbidden months) and financial obligations of at least 20 million Tomans with the insurance premiums mentioned in the table below.
Insurance companies and their representatives are obliged to make the table visible to the applicants.
– How to apply various discounts and additional insurance premium rates related to third party insurance in accordance with the criteria set forth in the executive regulations of Article (18) of the above law in accordance with Resolution No. 65485 / T55299- dated 27 August 1998 of the Council of Ministers and its amendment No. 52 400/96 dated 12 Azar 96 is the central insurance.
Pursuant to Article (3) of the Law on “Compulsory Insurance of Damages to Third Parties Due to Vehicle Accidents – Approved in 1995” and its Executive Regulations – Approved by the Council of Ministers, insurance companies are obliged to issue insurance policies for drivers whose coverage date is from The date of notification of this circular is and after that, with obligations of at least 6 billion Rials (600 million Tomans) and with the rates and criteria stipulated in the above-mentioned regulations, and at the request of insurers, the amount of obligations of previously issued driver insurance policies with relevant insurance premiums Increase.
– According to the third party insurance law, obtaining the supplement to increase the physical liabilities of third party insurance for insurance policies whose coverage date was before April 1, 1401, is excluded, and for those third party insurance policies whose coverage period is from the first to the eighth date. April 1401 and have been issued with the obligations of the previous year, since according to the law on third party insurance approved in 1995, the physical obligations of third party insurance at the time of issuance must be equal to the amount of haram months, insurance companies are obliged to inform such insurers To increase the physical liabilities of their insurance policies to the extent prescribed in the said law.
Also, if the insurers request an increase in financial liabilities to compensate for financial losses, the insurance companies are obliged to issue an addendum to increase the financial liabilities of third party insurance by obtaining the relevant insurance premium.
