This Friday a draft decree was released with the relief for the acquisition of the Compulsory Traffic Accident Insurance (SOAT).
Among the reliefs stands out the 50% discount on the cost of insurance, which will take effect, according to this draft decree, as of December 15.
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“For the purposes of what is established in literal a) of numeral 1 of article 193 of the Organic Statute of the Financial System, as of December 15, 2022, vehicles in the categories mopeds, motorcycles under 100 cc, motorcycles of 100 cc and up to 200 cc, business cars, taxis and urban minibuses, urban public service, buses and small buses and intermunicipal public service vehicles”, will have access to this benefit is indicated in the draft.
In the norm, which the Government will make available to citizens, it is also indicated that, “for the provisions of this article, the Financial Superintendence of Colombia will calculate the maximum legal SOAT rate, observing the principles of equity, sufficiency and moderation that numeral 5 of article 193 of the Organic Statute of the Financial System deals with”.
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“The owners of vehicles that register good road behavior, for not reporting claims that affect the policy of the Compulsory Traffic Accident Insurance (SOAT), and having renewed their policy in a timely manner they will be entitled to a decrease in the value of the Compulsory Traffic Accident Insurance, if in the two years immediately prior to the expiration of the policy they register good road behavior they will be entitled to a one-time discount of ten percent (10% ) on the value of the issued premium of the Compulsory Traffic Accident Insurance (SOAT)”, It is also indicated in the standard.
This rule is expected by the motorcyclists’ union that recently launched a strike in the sector, due to the high rates and the complication to acquire this insurance.
This is the draft decree:
