80% of Lao people do not have any insurance coverage !
(KPL) Assurance Generales du Laos (AGL), an insurance company based in Laos, claimed that at least 80 per cent of the people of Laos do not have any insurance and the main reason is that they are not aware of its importance, but on the contrary the people of developed and developing countries see insurance coverage as cornerstones of their lives.
Laos is one of the least developed countries in the world in connection to the extent of coverage of insurance of its people and this is backed up by the fact that only 12 per cent of its people enjoy any kind of insurance coverage.
Mr Holady Volarath, Deputy Managing Director of AGL told KPL News last week that though a law was passed in 1990 to make it compulsory for vehicle owners to insure their machines but because many people did not see the need to do so and so their vehicles were not insured...more >>
According to its data base, AGL estimated that 500,000 vehicles did not have any insurance coverage and the figure would increase to 700,000 in the near future, but in the meantime the number of accidents would be trending upwards.
He also said its permanent members number 100,000 but he is hopeful that in the near future it would ratchet up to 150,000.
Mr Holady said he felt that the Ministry of Social Security should get more people to buy insurance.
Posted by samakomlao
on 11:11 AM. Filed under
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