Khaberni - The chairwoman of the Vehicle Accident Victims' Fund Committee at the Central Bank, Ruwaida Al-Jazazieh, stated on Sunday that the Vehicle Accident Victims' Compensation System Fund offers compensation for victims whether for bodily injuries or in cases of death, clarifying that the compensation is granted in accordance with the provisions of the compulsory insurance system.
Al-Jazazieh added on Al Mamlaka channel that the compensation for death is paid to the heirs in the amount of 20,000 dinars, while compensation for the downtime resulting from bodily injuries is provided at a rate of 100 dinars per week, up to a maximum of 39 weeks, in addition to covering medical treatment expenses up to a maximum of 7,500 dinars.
She explained that the fund was established pursuant to articles 80 and 81 of the Insurance Business Regulation Law No. 12 of 2021, after the supervision of insurance companies and the insurance sector was transferred to the Central Bank.
She indicated that the fund aims to compensate for bodily damages and deaths in two cases, the first when the vehicle causing the accident is covered by a compulsory insurance policy, and the second if the identity of the vehicle causing the damage cannot be verified or its owner is unknown in cases of fleeing the accident scene, where the victim can approach the fund to get compensation within the limits of liability stipulated in the compulsory insurance system.
She clarified that the fund is not a substitute for compulsory insurance, and applies only in exceptional cases, excluding damages sustained by the driver or owner of the vehicle causing the damage, or to property, or if the victim has already received compensation. Claims must be submitted within one year from the date of the accident along with the required documents, such as a court decision with finality, medical reports, and bills, to be reviewed by the fund committee, assess the compensation based on the data, and disburse it directly.
She explained that the financial allocations for the fund are increased annually based on the volume of claims and financial statements to ensure its continued operation and stability.
She emphasized that the fund represents a legal and social safety net for victims of vehicle accidents, especially for those who have no entity responsible for compensating them, highlighting its role in protecting rights and providing economic stability to citizens.
