Talking to Lao Dong Newspaper, many experts expressed their agreement with this draft regulation.
Lawyer Nguyen Thu Trang - Deputy Director of Heva Law Firm - said that, first of all, civil liability insurance has many practical meanings. This type of insurance helps the vehicle owner compensate for damages to the accident victim, contributing to limiting the situation of the person causing the accident fleeing for fear of having to pay compensation.
According to Ms. Trang, many tightening regulations in the field of transportation have contributed to the formation of good habits, such as "if you are driving, you must wear a helmet" or "if you are driving, you must not drink alcohol or beer". The same goes for motorbike insurance, the mandatory regulation helps traffic participants clearly realize that buying insurance is necessary and should be done as a habit, not just a problem.
In addition to the regulation of compulsory motorbike insurance purchases with strong sanctions, the authorities need to shorten procedures so that compensation can be implemented faster and more in the coming time Lawyer Nguyen Thu Trang emphasized.
Expressing his views on this issue, Dr. Ta Dinh Hoa - lecturer at the Academy of Finance - said that the regulations on motorbike insurance are very humane. This is not a type of insurance directly for buyers, but is insurance for third parties, activated when the insurance buyer unfortunately causes an accident. At that time, insurance will pay for health and property damage to victims, contributing to ensuring social justice.
According to Mr. Hoa, most countries in the world stipulate that motorbike insurance is mandatory. However, in reality, in Vietnam, the compensation rate from motorbike insurance is still low. The reason comes from many aspects, including the fact that insurance buyers are afraid to contact the insurance agency when an accident occurs. If the buyer does not report, it will be difficult for the insurance agency to make the payment, and it will be difficult for the authorities to supervise.
Currently, although Decree 67/2023/ND-CP has many new points, it has removed many complicated procedures. However, the authorities need to continue to improve regulations, reduce paperwork, and simplify the process of receiving compensation for motorbike insurance. In the coming time, technology such as VNeID and online procedures can be applied to make it more convenient for people to have more options.
Recently, voters in many localities have petitioned to consider abolishing compulsory motorbike insurance. Responding to this opinion, the Ministry of Finance has repeatedly said that according to statistics in the first 6 months of 2024, only about 6.5 million motorbikes participated in compulsory civil liability insurance, accounting for about 9% of the total of more than 72 million motorbikes in circulation.
With a fee of 55,000 - 60,000 VND, when the insurance buyer unfortunately causes an accident, the third party will be paid a maximum of 150 million VND per person in a health and life accident; and a maximum of 50 million VND for property damage in an accident.
The Ministry of Finance affirms that compulsory motorbike insurance is regulated by most countries, such as the US, the European Union, Japan, Korea, India, China, ASEAN countries... Some countries even apply it to electric bicycles.
In Vietnam, compulsory civil liability insurance for motor vehicle owners (including cars and motorbikes) has been implemented since 1988 according to Decree No. 30-HDBT of the Council of Ministers. Up to now, motorbikes are still the main means of motor transport and the largest cause of traffic accidents, accounting for 63.48% of the total number of accidents.
Currently, this type of insurance is regulated in the Law on Insurance Business; Law on Road Traffic Order and Safety 2024 (effective from January 1, 2025); and Decree 67/2023/ND-CP on compulsory civil liability insurance for motor vehicle owners. The legal documents have added many new regulations, increasing benefits for vehicle owners regarding insurance fees, insurance amount, as well as simplifying compensation records.
On December 30, 2024, the Government issued Decree 174/2024/ND-CP regulating administrative sanctions in the field of insurance business, effective from February 15, 2025. This Decree stipulates additional penalties for violations such as suspending part of the content and scope related to the establishment and operation license of insurance companies if they violate the scope of insurance, excluding responsibilities, fees, deductions, limits or the minimum insurance amount for compulsory insurance.
In the coming time, to improve the effectiveness of implementing this type of insurance, the Ministry of Finance will coordinate with the Vietnam Insurance Association, insurance companies and relevant agencies to step up propaganda, helping people clearly understand their rights, scope of insurance and how to request compensation.
The Ministry of Finance will also strengthen inspection, examination and strictly handle violations of compulsory civil liability insurance by motor vehicle owners. At the same time, continue to study and simplify procedures, compensation records, humanitarian support payments, ensure quick and proper compensation, prevent insurance fraud, and contribute to the effective implementation of social security policies.
