News eDaily29 Sep 2017

Taiwan:Regulator raises punitive premium for drunk drivers

29 Sep 2017

Starting in March 2018, motorists convicted of drunk driving will be required to pay a higher punitive premium for Compulsory Automobile Liability Insurance, the Financial Supervisory Commission (FSC) has announced.

The punitive premium will be raised to NT$3,600 (US$119) per violation, up from the current NT$2,100, to reflect the cost of compensation for victims of drunk driving, reported the Central News Agency.

There is no limit to the number of times violators can be charged with a punitive premium, the FSC said.

The punitive premium system was introduced in March 2014.

As of July 2017, 67,730 insured motorists had been charged punitive premiums on top of the regular premium, which is currently NT$1,866 annually for men and NT$1,457 for women, according to statistics from the FSC's Insurance Bureau.

Of the punitive premium cases, 66,320 people were charged once, 1,320 twice, 66 three times and 24 four times, the data showed.


 

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