Insurance Relief for Motorists

Finally, motor­ist can expect either no or mar­gin­al increase in the car insur­ance premi­um this year. Gen­er­al Insur­ance Asso­ci­ation of SInga­pore (GIA) announced on 17 Mar 2010 that the industry losses nar­rowed sharply from $214 mil­lion in 2008 to $44.5 mil­lion last year . This is prob­ably due to high­er premi­um col­lec­ted last year and the pos­it­ive res­ult from the New Motor Claims Frame­work intro­duced  in June 2008. The frame­work requires motor­ists to report acci­dents — even minor ones — with­in 24 hours, and to sup­ple­ment these reports with pho­to­graphs.

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