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6% of Insurance Premium goes towards an Accident Victim Fund

by | May 11, 2015

Minister of Transport Stephen Cadiz

Minister of Transport Stephen Cadiz

A percentage of your insurance premiums has been going towards the State and placed in a fund set up to pay for damages to people who suffer in accidents involving cars without insurance.

This according to Minister of Transport, Stephen Cadiz on the Power Breakfast Show this morning. Minister Cadiz said this fund has been set up for years but, no legalization has been put in place for victims to access the fund.

Minister Cadiz said, the fund contains about 1 billion dollars, which was set up by the last Administration and can only be accessed once the legalization is passed.

Minister of Transport, Stephen Cadiz

 

 

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