The Chief Risk Officer at Leadway Group emphasized the need for increased compliance with third-party motor insurance in the country due to the current low level of adherence, which stands at only 30 per cent.
Nationwide enforcement of third-party motor insurance by the police has recently begun to address this issue and promote road safety.
Third-party motor insurance is vital for protecting all road users and providing financial coverage in case of accidents, making it crucial for vehicle owners to take immediate action to ensure compliance.
Emphasizing the importance of shared responsibility, the Chief Risk Officer highlighted that compliance benefits everyone by creating safer roads and a more secure society.
Stakeholders, including government agencies and private organizations, are urged to collaborate in raising awareness about compliance to enhance road safety and ensure a more accountable society.