Allan Brown reports for BNAmericas:
Bolivia lawmaker says SOAT payouts too small
Víctor Borda, who is also president of a lower house legal committee, said motorists would not be burdened with higher costs.
” data-toggle=”tooltip”>insurers, based on a finance ministry study, are big enough to absorb costs associated with an increase, Borda said in a lower house statement.
“What I have proposed is verifying the costs and profits of companies that sell SOAT policies because the current amount to cover a road traffic accident is small in my opinion, about US$3,500,” Borda said. “We know very well that a person, in the worst case, undergoes one, two or three surgical procedures, faces medical bills, and that US$3,500 is not enough.”
Bolivian Thoughts opinion: I’ve seen drivers that cause an accident and also get upset and do not want to be held responsible on any compensation. I have seen drivers who look after getting into collisions so they can get paid … system is nor perfect but this intention to offer more coverage on this insurance, at no additional cost, sounds perfect for all drivers in Bolivia!