Agreement on Compulsory Motor Insurance

关于强制汽车保险的协议

ຂໍ້ຕົກລົງວ່າດ້ວຍ ການປະກັນໄພລົດແບບບັງຄັບ

Summary

This agreement stipulates that all motor vehicles in Laos must be insured with compulsory third-party liability insurance, specifying the insurance coverage, exclusions, and claims procedures, and applies to all types of vehicles registered or driven in the country.

Articles

Article ມາດຕາ 1

Article 2 Compulsory Motor Insurance
Compulsory motor insurance is the basic insurance as stipulated in the Law on Land Traffic, for all types of motor-driven vehicles that must have compulsory insurance, including two-wheeled vehicles, three-wheeled vehicles, four-wheeled vehicles and above, as well as all types of mechanical vehicles driven by engines, including vehicles using fuel, electric power or other alternative energy. For vehicles that already have voluntary motor insurance, it is not necessary to have additional compulsory motor insurance.

Article ມາດຕາ 2

Article 2 Interpretation of Terms
The terms used in this agreement have the following meanings and definitions:

Insurer means a general insurance company operating in the Lao PDR that is a party to the contract;

Policyholder means a natural or legal person who enters into a contract with the insurer for compulsory motor insurance; the policyholder may be the owner of the insured vehicle or the driver of the insured vehicle;

Insured vehicle means the vehicle covered under the insurance contract;

Driver means the driver of the insured vehicle at the time of the accident;

Third party means persons inside (driver, passengers, pedestrians, general public) affected by the insured vehicle, excluding the driver and passengers of the vehicle causing the accident;

Vehicle means all types of motor vehicles duly registered by the relevant authorities;

Other distribution channels means distribution other than direct sales and sales through insurance intermediaries approved by the Ministry of Finance, which assist in distributing compulsory motor insurance products in exchange for sales commissions from the insurer.

Article ມາດຕາ 3

Article 3 Scope of Application

This agreement applies to insurers, individuals, legal entities and organizations who are owners, lessees or possessors of all types of motor vehicles and clean energy vehicles registered in the Lao PDR.
For vehicles registered abroad that enter and travel on roads in the Lao PDR, they shall comply with the Law on Land Traffic and the Law on Land Transport of the Lao PDR and the international conventions and treaties to which the Lao PDR is a party.

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