Nyala Insurance registered 10,000 vehicles for mandatory third party insurance policies. The insurer has equipped one of its branches to facilitate third party insurance coverage.   

The insurance company has trained personnel to handle third party registration process at additional cost said Eyob Meherette CEO of Nyala Insurance. The Insurers specialized set up is to be found at its Africa Avenue Branch and is expected to speed up the registration process he explained.

The specially designated branch, however, does not meant that it will be the only one offering third part insurance services said Tegene Masersha, Marketing and Customer Service Officer.

It is to be remembered that the deadline for mandatory Third Party Insurance was extended by a month from the original 10 of December.

The Insurance Fund Office is in charge of setting tariff rates, preparing windshield sticker and certificates, handling emergency claims and third party claims for uninsured or untraced vehicles.

The office has delegated the Ethiopian Insurance Corporation to act on its behalf in all areas except for the setting of tariff rates.

The new third party policy insures vehicular accidents on ‘any person other than the insured person, a member of the insured person’s family, the driver or any person employed on a vehicle to which the policy applies.’

Source: Capital