The Association of Ethiopian Insurers hold interactive discussions with the Addis Ababa Police Commission on ways to curb traffic accidents, in addition to strengthening integration between the two parties on information sharing after accidents occur.
With motor vehicle accidents becoming one of the ever increasing public health problem in Ethiopia, discussions on the matter with all actors concerned is proving to be vital.
Insurers often have a motor insurance which is a contract between the insured and the insurance company that protects against financial loss, but as the discussions show, such contracts play a bigger role.
Since insurance and road safety are natural, motor insurance is a necessity but it is often a difficult class of business to manage. Thus the appropriate strategies and options must be emplaced.
The motor insurance industry plays an important role in road safety. Not only do most motor insurance companies assist in the creation of awareness through advertisements and circulars to clients, but they also provide the platform and solution to repair damaged vehicles.
“Insurance is about more than just compensating for loss as it is a highly effective mechanism for assessing, managing and reducing risk. By helping customers face up to and manage risk effectively, insurance is an invaluable part of modern society and the motoring experience,” as indicated on the meeting.
Different participants from both the insurance and police commission attended the fruitful discussion, and agreed to work in partnership.