Liability insurance policies sold to people that cover driving under the influence (DUI) incidents seem to be encouraging drunk driving, the Financial Supervisory Commission (FSC) said on Wednesday, adding that it would consider asking insurers to stop providing such products.
“These kinds of policies encourage people to drive while drunk by covering damage to third parties,” Koo told a question-and-answer session of the Finance Committee at the Legislative Yuan in Taipei.
Earlier, Democratic Progressive Party Legislator Shih Yi-fang (施義芳) asked whether it was justifiable for local life insurers to sell such polices.
Holding a copy of a liability insurance policy, Shih said a insurer charged NT$3,374 to cover damage to a third party and NT$373 to cover damage to property or injury caused while driving under the influence of alcohol.
“The policy implies that if people buy this insurance, it is okay for them to drive drunk and hurt others, which is not moral,” Shih said.
With Ministry of Justice officials and lawmakers planning to push for stricter penalties for DUI after two people were killed on Saturday last week in a drunk-driving incident, such products should be taken off the market, he said.
Koo said that the commission would review the matter with local insurers and reach a conclusion within one month.
Local insurance firms began selling such policies a long time ago, as the breath-alcohol limit was much looser then and the products helped cover medical expenses and property damage for third parties, the Insurance Bureau said.
If a driver’s breath-alcohol level exceeds the limit and they receive a DUI conviction, the firm would honor the policy, but seek reparation from the insured party, the bureau said.
However, with the legal limit tightened, there is less need for such policies, it said.
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