Impatience, root cause for tuk-tuk and motorbike accidents
While tuk-tuk and motorbikes accidents are on the rise, one of the root cause for road accidents is the impatience of drivers on roads. The hurry to overtake a vehicle ahead and impatience to wait for oncoming vehicles to take the turn first, have been highlighted as accidents that has led to many deaths.
Also on one side while the number of tuk-tuks on roads and accidents are increasing, the need for a retirement insurance plan has also arisen.
Last Tuesday Amana Takaful Insurance introduced two new insurance policies for tuk-tuks and motorbikes at the Sri Lanka Foundation in Colombo. Company CEO Fazal Ghaffoor at the event mentioned that, after extensive discussions and feedback from the largest fraternity of drivers who represent 4.5 million motorbikes and tuk-tuks in the country, the policy was created by the company.
One of the tuk-tuk drivers had told Mr. Ghaffoor, “Leasing and insurance companies have their say where we have lost our way. Can you arrange a retirement plan for us?” These are questions from very young tuk-tuk drivers in the country, added Mr. Ghaffoor.
Benefits provided to motorcycle riders under the ‘Smart Rider Cover’ and tuk-tuk drivers under the ‘TukTukFull’ are for claims of Rs. 300,000 for the death of the policy holder, Rs. 300,000 for total disability, Rs. 100,000 for 38 critical illnesses, Rs. 750 per day for hospitalisation and Rs. 25,000 for a death in the family. As an exception for tuk-tuk drivers Rs. 1,000 per day for up to 4 days for loss of income due to an accident will be provided under the ‘TukTukFull’ cover.
Mr. Ghaffoor noted, “In the first two years we won’t be expecting any return, if at all this would be a CSR project for the company. We need to get all the numbers because everybody contributes to a pool through which we meet the claims to be made. At least we should try to break even because we are a listed company and responsible to shareholders. This is the only unique policy for tuk-tuk and motorbike drivers amongst the 18 general insurance companies in
Sri Lanka.”
It was also stated at the event that for a tuk-tuk a policy of Rs. 650,000 means a premium of Rs. 12,650 and for a motorbike insurance policy of Rs. 200,000 the premium is Rs. 7,418.
It was stated at the event that last year on average six accidents were reported per day while the number has increased to 7 to 8 accidents per day on average from the beginning of this year. 55 per cent of vehicles on the roads today are tuk-tuks and motorbikes. Impatience is the root cause for accidents today, it was noted.