Govt to introduce comprehensive vehicle insurance scheme
Ameen noted that while third-party insurance is mandatory under current laws, it does not cover theft or damage to the insured vehicle.
Transport Minister Mohamed Ameen has announced that the government is preparing to introduce a comprehensive insurance scheme to provide compensation for vehicle theft and damage, in addition to the legally required third-party insurance.
Speaking on the Ahaashey Bunaan programme on Public Service Media (PSM) on Friday, the Minister addressed a question raised by a listener regarding the lack of compensation for accidental vehicle damage and theft under the current insurance framework.
Minister Ameen noted that while third-party insurance is mandatory under current laws, it does not cover theft or damage to the insured vehicle. To address this issue, he said the government is working on legislative amendments aimed at resolving broader traffic-related challenges.
“A draft of amendments to the law is being prepared for submission to Parliament,” he said. “Once enacted, this would resolve the current gap in covering damage resulting from accidents.”
In the meantime, Minister Ameen said the government is engaged in discussions with insurance companies to introduce an additional comprehensive insurance option that could be offered alongside existing third-party coverage.
“It is expected that a new comprehensive insurance package will be introduced within the next 45 days or two months,” he added.
