Road Accident Fund
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High Quality Content by WIKIPEDIA articles! The Road Accident Fund in South Africa is a state insurer established by statute. It provides insurance cover to all drivers of motor vehicles in South Africa in respect of liability incurred or damage caused as a result of a road accident. Liability incurred in relation to property damage (such as damage to vehicles, buildings, vehicle contents) is excluded from cover. The Road Accident Fund operates a system whereby the claimant is assigned a percentage of responsibility for the accident, and the Road Accident Fund pays the claimant a percentage of...
High Quality Content by WIKIPEDIA articles! The Road Accident Fund in South Africa is a state insurer established by statute. It provides insurance cover to all drivers of motor vehicles in South Africa in respect of liability incurred or damage caused as a result of a road accident. Liability incurred in relation to property damage (such as damage to vehicles, buildings, vehicle contents) is excluded from cover. The Road Accident Fund operates a system whereby the claimant is assigned a percentage of responsibility for the accident, and the Road Accident Fund pays the claimant a percentage of a full settlement based on a percentage that was not deemed to be their responsibility. Insurance premiums are collected the Road Accident Fund through a levy on motor vehicle fuel. The Motor Vehicle Assurance Act 29 of 1942 introduced compulsory motor vehicle insurance in South Africa. The purpose of this statute was to attempt to ensure that there was funding to meet the liabilities of all victims of motor vehicle accidents, whether or not the vehicles involved were used illegally. The emphasis of this legislation related to protecting pedestrians.
