The Federal Transport Authority, in collaboration with the Insurance Fund Management Agency, held a discussion with the insurers, cross-border vehicle owners, associations and other stakeholders on the importance of life insurance for cross-border drivers and assistants in connection with the Covid 19 outbreak.
The Director General of the Federal Transport Authority, Abdissa Yadeta, and the Director General of the Insurance Fund Management Agency, Worknesh Birru, also attended the forum.
Director General of the Insurance Fund Management Agency, W / ro Worknesh Birru, on the occasion said the current life insurance scheme will benefit both parties considering the fact that the compensation paid to third parties is not adequate and timely.
He added that eight insurance companies have completed the preparations to start the service.
At the forum, a document on life insurance was presented and it was stated in the document that life insurance insurance will be covered by the amount paid by the owners and insurance companies.
Accordingly, if the drivers and their assistants die due to the cholera virus, 250,000 shillings will be paid to the driver’s family and 150 shillings to the assistant family.
The Federal Transport Authority and the Insurance Fund Management Agency will work together to coordinate and monitor the service and the insurance will be valid for one year and will be renewed annually as needed. He said the agency and the Authority will provide details on the matter.