Why was the law being reformed?
The old act governing motor liability insurance entered into force in 1960, and the content of the law has gradually become obsolete.
How has the law been reformed? What was the aim of the reform?
The aim of the complete reform of the Act governing motor liability insurance was to make its content structure clearer and less equivocal than before. Additionally, established practices that have so far been missing from the law were now included.
The new law clarifies and improves the position and rights of policy holders and victims. The law also takes into account future needs, such as the increase in self-driving cars.
The new act aims to promote development and competition in markets. In practice, the reform gives the insurance industry the opportunity to develop new products.
The basic principles of the law remained the same, however. The basic principles are the scope, the obligation to insure, and the principles and reimbursement benefits of compensating damage.