Motor Insurance



PROJECT

MOTOR INSURANCE

December 2004

Contents

Chapter 1

Introduction

Chapter 2

Merchandise insurance- cargo insurance

• introduction

• types

• object

• insured amount

• insurance premium

• liability,compensation

• risk coverage

• exclusions

Chapter 3

Carrier’s liability insurance

• general presentation and provisions

• carrier liability insurance- CMR- Romania

• types

• object

• insured amount

• insurance premium

• liability

• risk coverage

• exclusions

Chapter 4

Vehicle insurance

• Car Insurance and the Road Traffic Act

• Compulsory Car Insurance in the United Kingdom

• motor insurance against damages and theft

• object of the insurance contract

• insured risk

• exclusions

• insured amount

Chapter 5

Third party liability insurance

• Third party liability insurance in Romania

• International third party liability insurance

• The Green Card System

Bibliography

Chapter 1

Introduction

The need for motor insurance appeared short after the first cars were introduced at the end of the 19th century, although at that time the number of cars was quite limited as only few could afford it.

In fact, motor insurance appeared for the first time at the beginning of the 20th century being included in the category of the insurance for accidents. After 1850 road transportation started to develop, the number of cars increased, they also diversified, as a consequence motor insurance was no longer a type of insurance for accidents but became a new type of insurance as such.

Also the total amount of insurance premium in the case of motor insurance was already higher than the total amount of insurance premiums cashed in for all other type of accidents.

After the First World War road transportation developed due to the new stimulating trend in the economy and development of the car manufacturing industry. A consequence was the increase in the number of accidents. The lack of insurance made it impossible to cover up loses or compensate the victims of such events. Thus the motor insurance became also a social necessity.

At the beginning motor insurance included only protection for personal injury or other loses suffered by third parties, time brought new types of protection.

Motor insurance is not limited to the insurance of the vehicle, but also refers to the protection related to:

 merchandise insurance- cargo insurance;

 carrier’s liability insurance;

 vehicle insurance;

 third party liability insurance.