Cambodia: Motor third party liability insurance to be made compulsory
Source: Asia Insurance Review | Oct 2019
The government has announced that it will make vehicle third party liability coverage compulsory soon.
Finance Minister Aun Pornmoniroth said the government is planning to issue a law that will make vehicle insurance mandatory for every vehicle owner, which, he added, is in line with the existing Insurance Law, reported Khmer Times.
He said the law will aim to provide financial protection against physical damage resulting from traffic collisions as well as to protect the insured against any liability arising from such incidents.
The minister did not reveal a timeframe for the launch of the law. It is estimated that less than 5% of vehicles on Cambodian roads are insured. A