Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety
This study focusses on motor insurance, possibly the most important type of insurance sold in developing countries. In most countries, motor third-party liability (MTPL) insurance is compulsory in order to protect the public. World Bank studies in...
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| Other Authors: | |
| Format: | Other Financial Sector Study |
| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2009/01/16404253/motor-third-party-liability-insurance-developing-countries-raising-awareness-improving-safety http://hdl.handle.net/10986/12960 |
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okr-10986-12960 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INFORMATION ACCIDENTS ACCOUNTING ACCOUNTING RULES ACCOUNTING STANDARDS ACTUARIAL SCIENCE ADJUDICATION ADMINISTRATIVE COSTS ADMINISTRATIVE EXPENSES ADVERSE SELECTION ASSETS AUDITORS BALANCE SHEET BENEFICIARIES BENEFICIARY BODILY INJURIES BODILY INJURY BOND BOOK VALUE BROKER BROKERAGE BROKERS CAPITAL COSTS CAPITAL MARKETS DEVELOPMENT CAPITALIZATION CASH FLOW CHAPTER 7 CIVIL LIABILITIES CIVIL LIABILITY CLAIM COLLECTION SYSTEM COMMISSIONS COMMON STOCK COMPENSATION COMPULSORY INSURANCE COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER CORPORATE GOVERNANCE COST OF CAPITAL COVERAGE CREDITOR DEBT DEBTOR DEFAULTS DEFICITS DEPENDENTS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS EARNED PREMIUM EMERGING MARKETS EQUITY INTEREST EVENT OF DEATH EXCHANGE COMMISSION EXISTING LEGAL FRAMEWORK EXPOSURE EXPOSURES FINANCIAL BENEFIT FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FLOW OF INFORMATION FRAUD FREE MARKET FREE MARKETS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GROSS NATIONAL PRODUCT GUARANTEE FUND GUARANTEE FUNDS HOLDINGS INCOME INDEBTED INDEMNIFICATION INDEMNIFICATIONS INDEMNITY INDEPENDENT AUDITOR INDEPENDENT AUDITORS INDUSTRIAL COUNTRIES INFLATION INFLATION RATE INFORMATION SERVICE INFORMATION TECHNOLOGY INSOLVENCY INSOLVENT INSOLVENT INSURERS INSTRUMENT INSURANCE ACTIVITY INSURANCE AGENTS INSURANCE BROKERS INSURANCE CARRIERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE INDUSTRY INSURANCE MARKET INSURANCE MARKETS INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PROGRAM INSURANCE SYSTEM INSURER INTERESTED PARTIES INTERESTED PARTY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTING ISSUANCE JUDGMENT JURISDICTIONS LACK OF COMPETITION LAWS LEGAL FRAMEWORK LIABILITY LIABILITY INSURANCE LIBERALIZATION LOSS OF EARNINGS LOSS RATIO MANDATE MARKET FORCES MARKET OVERSIGHT MARKET PRACTICES MARKET PRICE MARKET PRICES MATURE MARKETS MIDDLE-INCOME COUNTRIES MONOPOLIES MONOPOLY MORAL HAZARD MOTOR INSURANCE NON-LIFE INSURANCE NONPROPORTIONAL REINSURANCE OUTSTANDING CLAIMS PAR VALUE PAYMENT OF CLAIMS PERSONAL LIABILITY POLICYHOLDERS POLITICAL ECONOMY PORTFOLIO PREMIUMS PRICE COMPETITION PRIVATE INSURANCE PRIVATE SECTOR DEVELOPMENT PROFIT MARGIN PROPERTY DAMAGE PROPERTY DAMAGES QUOTA SHARE REINSURANCE RATES REINSURANCE REINSURANCE TREATY RESERVE RESERVES RISK MANAGEMENT RISK POOLING RISK PREMIUM RISK PREMIUMS RISK TRANSFER SECURITIES SETTLEMENT SETTLEMENT OF CLAIMS SOCIAL SECURITY SOCIAL SECURITY SYSTEMS SOLVENCY SOLVENCY REQUIREMENTS STATE GUARANTEE SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY TAX TAXIS TORTS TREASURY TREATIES TREATY REINSURANCE UNDERWRITING VALUATION VARIABLE COST VEHICLE REGISTRIES VEHICLE REGISTRY WAGES WITHDRAWAL WORLD TRADE |
| spellingShingle |
ACCESS TO INFORMATION ACCIDENTS ACCOUNTING ACCOUNTING RULES ACCOUNTING STANDARDS ACTUARIAL SCIENCE ADJUDICATION ADMINISTRATIVE COSTS ADMINISTRATIVE EXPENSES ADVERSE SELECTION ASSETS AUDITORS BALANCE SHEET BENEFICIARIES BENEFICIARY BODILY INJURIES BODILY INJURY BOND BOOK VALUE BROKER BROKERAGE BROKERS CAPITAL COSTS CAPITAL MARKETS DEVELOPMENT CAPITALIZATION CASH FLOW CHAPTER 7 CIVIL LIABILITIES CIVIL LIABILITY CLAIM COLLECTION SYSTEM COMMISSIONS COMMON STOCK COMPENSATION COMPULSORY INSURANCE COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER CORPORATE GOVERNANCE COST OF CAPITAL COVERAGE CREDITOR DEBT DEBTOR DEFAULTS DEFICITS DEPENDENTS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS EARNED PREMIUM EMERGING MARKETS EQUITY INTEREST EVENT OF DEATH EXCHANGE COMMISSION EXISTING LEGAL FRAMEWORK EXPOSURE EXPOSURES FINANCIAL BENEFIT FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FLOW OF INFORMATION FRAUD FREE MARKET FREE MARKETS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GROSS NATIONAL PRODUCT GUARANTEE FUND GUARANTEE FUNDS HOLDINGS INCOME INDEBTED INDEMNIFICATION INDEMNIFICATIONS INDEMNITY INDEPENDENT AUDITOR INDEPENDENT AUDITORS INDUSTRIAL COUNTRIES INFLATION INFLATION RATE INFORMATION SERVICE INFORMATION TECHNOLOGY INSOLVENCY INSOLVENT INSOLVENT INSURERS INSTRUMENT INSURANCE ACTIVITY INSURANCE AGENTS INSURANCE BROKERS INSURANCE CARRIERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE INDUSTRY INSURANCE MARKET INSURANCE MARKETS INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PROGRAM INSURANCE SYSTEM INSURER INTERESTED PARTIES INTERESTED PARTY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTING ISSUANCE JUDGMENT JURISDICTIONS LACK OF COMPETITION LAWS LEGAL FRAMEWORK LIABILITY LIABILITY INSURANCE LIBERALIZATION LOSS OF EARNINGS LOSS RATIO MANDATE MARKET FORCES MARKET OVERSIGHT MARKET PRACTICES MARKET PRICE MARKET PRICES MATURE MARKETS MIDDLE-INCOME COUNTRIES MONOPOLIES MONOPOLY MORAL HAZARD MOTOR INSURANCE NON-LIFE INSURANCE NONPROPORTIONAL REINSURANCE OUTSTANDING CLAIMS PAR VALUE PAYMENT OF CLAIMS PERSONAL LIABILITY POLICYHOLDERS POLITICAL ECONOMY PORTFOLIO PREMIUMS PRICE COMPETITION PRIVATE INSURANCE PRIVATE SECTOR DEVELOPMENT PROFIT MARGIN PROPERTY DAMAGE PROPERTY DAMAGES QUOTA SHARE REINSURANCE RATES REINSURANCE REINSURANCE TREATY RESERVE RESERVES RISK MANAGEMENT RISK POOLING RISK PREMIUM RISK PREMIUMS RISK TRANSFER SECURITIES SETTLEMENT SETTLEMENT OF CLAIMS SOCIAL SECURITY SOCIAL SECURITY SYSTEMS SOLVENCY SOLVENCY REQUIREMENTS STATE GUARANTEE SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY TAX TAXIS TORTS TREASURY TREATIES TREATY REINSURANCE UNDERWRITING VALUATION VARIABLE COST VEHICLE REGISTRIES VEHICLE REGISTRY WAGES WITHDRAWAL WORLD TRADE Gönülal, Serap O. Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety |
| description |
This study focusses on motor insurance,
possibly the most important type of insurance sold in
developing countries. In most countries, motor third-party
liability (MTPL) insurance is compulsory in order to protect
the public. World Bank studies in Africa, Central Asia, and
Europe have shown that motor insurance premiums represent at
least 30 percent of all non-life premium income. MTPL
insurance has been introduced in the formerly centrally
planned economies only in the past decade, and it is poorly
understood. Motorists are inclined to view it as a form of
tax that they are at liberty to evade, rather than as a
protection against their personal liability, a concept that
is not familiar to the general public. This report discusses
the high motor accident casualty rate in developing
countries, and predicts that it will increase dramatically
by 2020. It focuses specific aspects of MTPL systems, with
reference to the experiences gained in both developed and
developing markets. The report examines existing practices,
and discusses some aspects of the MTPL system, referring
especially to the experiences of Brazil, which sought to
correct uninsured vehicle rates that were as high as 60
percent or more. The study concludes with results from the
experiences of the countries studies, and outlines some
important features to guide future work in those countries.
It underlines the importance of MTPL insurance for road
safety, personal responsibility, and secure traffic systems
in developing countries. |
| author2 |
Gonulal, Serap O. |
| author_facet |
Gonulal, Serap O. Gönülal, Serap O. |
| format |
Economic & Sector Work :: Other Financial Sector Study |
| author |
Gönülal, Serap O. |
| author_sort |
Gönülal, Serap O. |
| title |
Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety |
| title_short |
Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety |
| title_full |
Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety |
| title_fullStr |
Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety |
| title_full_unstemmed |
Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety |
| title_sort |
motor third-party liability insurance in developing countries : raising awareness and improving safety |
| publisher |
World Bank, Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2009/01/16404253/motor-third-party-liability-insurance-developing-countries-raising-awareness-improving-safety http://hdl.handle.net/10986/12960 |
| _version_ |
1764420982535094272 |
| spelling |
okr-10986-129602021-04-23T14:03:03Z Motor Third-Party Liability Insurance in Developing Countries : Raising Awareness and Improving Safety Gönülal, Serap O. Gonulal, Serap O. ACCESS TO INFORMATION ACCIDENTS ACCOUNTING ACCOUNTING RULES ACCOUNTING STANDARDS ACTUARIAL SCIENCE ADJUDICATION ADMINISTRATIVE COSTS ADMINISTRATIVE EXPENSES ADVERSE SELECTION ASSETS AUDITORS BALANCE SHEET BENEFICIARIES BENEFICIARY BODILY INJURIES BODILY INJURY BOND BOOK VALUE BROKER BROKERAGE BROKERS CAPITAL COSTS CAPITAL MARKETS DEVELOPMENT CAPITALIZATION CASH FLOW CHAPTER 7 CIVIL LIABILITIES CIVIL LIABILITY CLAIM COLLECTION SYSTEM COMMISSIONS COMMON STOCK COMPENSATION COMPULSORY INSURANCE COPYRIGHT CLEARANCE COPYRIGHT CLEARANCE CENTER CORPORATE GOVERNANCE COST OF CAPITAL COVERAGE CREDITOR DEBT DEBTOR DEFAULTS DEFICITS DEPENDENTS DEVELOPING COUNTRIES DEVELOPING ECONOMIES DEVELOPING MARKETS EARNED PREMIUM EMERGING MARKETS EQUITY INTEREST EVENT OF DEATH EXCHANGE COMMISSION EXISTING LEGAL FRAMEWORK EXPOSURE EXPOSURES FINANCIAL BENEFIT FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL STATEMENTS FLOW OF INFORMATION FRAUD FREE MARKET FREE MARKETS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GROSS NATIONAL PRODUCT GUARANTEE FUND GUARANTEE FUNDS HOLDINGS INCOME INDEBTED INDEMNIFICATION INDEMNIFICATIONS INDEMNITY INDEPENDENT AUDITOR INDEPENDENT AUDITORS INDUSTRIAL COUNTRIES INFLATION INFLATION RATE INFORMATION SERVICE INFORMATION TECHNOLOGY INSOLVENCY INSOLVENT INSOLVENT INSURERS INSTRUMENT INSURANCE ACTIVITY INSURANCE AGENTS INSURANCE BROKERS INSURANCE CARRIERS INSURANCE COMPANIES INSURANCE COMPANY INSURANCE CONTRACTS INSURANCE COVERAGE INSURANCE INDUSTRY INSURANCE MARKET INSURANCE MARKETS INSURANCE POLICIES INSURANCE POLICY INSURANCE PREMIUM INSURANCE PREMIUMS INSURANCE PROGRAM INSURANCE SYSTEM INSURER INTERESTED PARTIES INTERESTED PARTY INTERNAL CONTROL INTERNAL CONTROLS INTERNATIONAL BANK INTERNATIONAL STANDARDS INVESTING ISSUANCE JUDGMENT JURISDICTIONS LACK OF COMPETITION LAWS LEGAL FRAMEWORK LIABILITY LIABILITY INSURANCE LIBERALIZATION LOSS OF EARNINGS LOSS RATIO MANDATE MARKET FORCES MARKET OVERSIGHT MARKET PRACTICES MARKET PRICE MARKET PRICES MATURE MARKETS MIDDLE-INCOME COUNTRIES MONOPOLIES MONOPOLY MORAL HAZARD MOTOR INSURANCE NON-LIFE INSURANCE NONPROPORTIONAL REINSURANCE OUTSTANDING CLAIMS PAR VALUE PAYMENT OF CLAIMS PERSONAL LIABILITY POLICYHOLDERS POLITICAL ECONOMY PORTFOLIO PREMIUMS PRICE COMPETITION PRIVATE INSURANCE PRIVATE SECTOR DEVELOPMENT PROFIT MARGIN PROPERTY DAMAGE PROPERTY DAMAGES QUOTA SHARE REINSURANCE RATES REINSURANCE REINSURANCE TREATY RESERVE RESERVES RISK MANAGEMENT RISK POOLING RISK PREMIUM RISK PREMIUMS RISK TRANSFER SECURITIES SETTLEMENT SETTLEMENT OF CLAIMS SOCIAL SECURITY SOCIAL SECURITY SYSTEMS SOLVENCY SOLVENCY REQUIREMENTS STATE GUARANTEE SUPERVISORY AUTHORITIES SUPERVISORY AUTHORITY TAX TAXIS TORTS TREASURY TREATIES TREATY REINSURANCE UNDERWRITING VALUATION VARIABLE COST VEHICLE REGISTRIES VEHICLE REGISTRY WAGES WITHDRAWAL WORLD TRADE This study focusses on motor insurance, possibly the most important type of insurance sold in developing countries. In most countries, motor third-party liability (MTPL) insurance is compulsory in order to protect the public. World Bank studies in Africa, Central Asia, and Europe have shown that motor insurance premiums represent at least 30 percent of all non-life premium income. MTPL insurance has been introduced in the formerly centrally planned economies only in the past decade, and it is poorly understood. Motorists are inclined to view it as a form of tax that they are at liberty to evade, rather than as a protection against their personal liability, a concept that is not familiar to the general public. This report discusses the high motor accident casualty rate in developing countries, and predicts that it will increase dramatically by 2020. It focuses specific aspects of MTPL systems, with reference to the experiences gained in both developed and developing markets. The report examines existing practices, and discusses some aspects of the MTPL system, referring especially to the experiences of Brazil, which sought to correct uninsured vehicle rates that were as high as 60 percent or more. The study concludes with results from the experiences of the countries studies, and outlines some important features to guide future work in those countries. It underlines the importance of MTPL insurance for road safety, personal responsibility, and secure traffic systems in developing countries. 2013-03-26T20:08:30Z 2013-03-26T20:08:30Z 2009 http://documents.worldbank.org/curated/en/2009/01/16404253/motor-third-party-liability-insurance-developing-countries-raising-awareness-improving-safety http://hdl.handle.net/10986/12960 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work |