Third Party Liability Insurance

          Third Party Liability Insurance was provided by law and implemented on July 1, 1976. It is an insurance system that the liability for death or bodily injury or property damage caused to any other person in the event of an accident occasioned by arising out of the use of the vehicle is transferred to Myanma Insurance on behalf of the vehicle of the owner.

          The premium rating and the compensation amount are updated on August 1, 2016. The update premium rating may be different depending on the loaded passengers and the weight of vehicle (Tons). The premium is Kyats 5000.00 for minimum and Kyats 10000.00 for maximum for private vehicle. The premium is Kyats 10000.00 for minimum and Kyats 15000.00 for maximum for commercial vehicle. The update maximum compensation amount is as follows:

          From the year 1997, the cross-border area (Myawady, Muse and Tachilek) has implemented Third Party Liability Insurance with the updated the premium rating in order to get coverage for Myanmar people if the loss caused to them in the event of an accident occasioned by arising out of the use of the vehicles from the other boundaries entering into Myanmar.

Download Dead Form Download Third Party Liability Premium Rates

The Current Implementation of ASEAN Framework Agreement on the Facilitation of Goods in Transit: Protocol-5 (ASEAN Scheme of Compulsory Motor Vehicle Insurance)

• According to ASEAN Framework Agreement on the Facilitation of Goods in Transit and GMS Cross-Border Transport Agreement, Compulsory Third-Party Liability Motor Insurance is providing for the cross-border goods-carrying vehicles, which are entering not only into ASEAN countries but also into China and India.
• For selling insurance cover, we are now providing at transit areas such as Tamu, Myawady, Tachilek and Muse now but we are trying to sell it online.
• To purchase TPL Insurance Cover at cross-border checkpoints, the customer must provide the documentation of the vehicle such as owner book, wheel-tax, Driving License that must be valid.
• The insurance period is one month and its cover will start as soon as the vehicle enters Myanmar. It will terminate after leaving Myanmar.
• The premium will calculate based on the types of the vehicles (eg: small for Kyats 30,000.00, medium for Kyats 50,000.00 and large for Kyats 70,000.00 with Myanmar Currency).
• The maximum compensation amount for bodily injury per person is Kyats 1,000,000.00
• The maximum compensation amount for death per person is Kyats 1,000,000.00
• The maximum compensation amount for any one occurrence is Kyats 80 million
• To implement Customs Transit for Protocol-5, Myanma Insurance is often holding the pre-meetings with respective departments such as Road and Transport, Immigration and Customs.
• Instead of short-term policies, annual policies will provide for regular customers later.
• Myanmar is now providing Compulsory Insurance Cover and Voluntary Insurance Cover will provide later.
• To be fulfilling the implementation of Protocol-5 within timeframe, Myanmar is trying to not only provide the agreements with other member countries but also prepare the needs of technical assistance.
• At 14.12.2016, Thai General Insurance Association – TGIA visited Myanma Insurance Head Office and the agreement between the two countries is made to provide cooperation for cross-border vehicles.
• At 12.3.2019, Myanma Insurance, Road Victim Protection (RVP) Company based on Thailand and Thai General Insurance Association – TGIA signed MoU for cooperation on cross-border motor vehicle insurance underwriting and claim settlement services.
• In order to provide the underwriting and claim settlement for cross-border vehicles conveniently and quickly, Myanmar will accept and store the vehicles’ information into ASEAN Compulsory Motor Insurance (ACMI) system via online.
• In order to know the claim information timely, the cross-border checkpoints such as Myawady, Muse, Tachilek and Kalay (Tamu) are being provided to use internet.

Cross Border Motor Insurance

          Cross Border Motor Insurance covers the vehicle entering into Myanmar across the border or the vehicle entering from one foreign country to another country through Myanmar.

          Third Party Liability Insurance covers against the owners of the automobiles under the Myanmar Compulsory Third Party Liability Insurance subject to the limits of liability terms, conditions of this insurance, which are death of or bodily injury to a Third Party and/or loss of or damage to property owned a Third Party resulting from an accident in the Union of Myanmar caused by arising out of the use of any one automobile during the period one month.

          The maximum compensation amount for death and injury is Kyats 1,000,000, the maximum cover limit for any one occurance is Kyats 80 million.

          As the sum insured will be accepted in Myanmar currency Kyats, so the premium will be charged in Kyats. If loss occurs, it is inform Myanma Insurance immediately.