The CurrentImplementation ofASEAN 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, the cross-border vehicles must be provided for carrying goods not only to ASEAN countries but also to China and India.
  • Third Party Compulsory Cover is being provided at Myanmar Cross-border check-points such as Tamu, Myawady, Tachilek and Muse and we are now implementing to pass into China and India,too.
  • After Blue Card is ratified by ASEAN countires, the implementation of Protocol-5 will be started to provide and Myanmar has now finished for ratification.
  • Although Myanmar is not a member of ASEAN Insurance Council-AIC now, we are trying to organize Myanmar Insurance Council at first and then will join to AIC later.
  • We are trying to implement to sell insurance cover via online and we are providing that cover at transit areas now.
  • For preventing the use of fraud Blue Card, Web-based (Electronic Underwriting) will be used and we are trying to provide to have a good connection at transit areas. ​
  • To purchase TPL Insurance Cover at cross-border checkpoints,the customer must present the vehicle’s documents such as owner book, wheel-tax, Driving License that must be valid. The insurance cover will start when the vehicle enters into Myanmar and the term will be one month. After leaving from Myanmar, the cover is not effective and the premium will be charged if it entered into Myanmar again.
  • The premium is calculated based on the nature of vehicles (e.g. small, medium and large) and the premium is Kyats 30000.00, 50000.00 and 70000.00 with Myanmar Currency.
  • At 1.8.2016, we have provided the update compensation amount as follow:

The maximum compensation amount for bodily injury per person is Kyats 1,000,000.00 instead of Kyats 500,000.00

The maximum compensation amount for death per person is Kyats 1,000,000.00 instead of Kyats 500,000.00

The maximum compensation amount for any one occurrence is Kyats 80 million instead of Kyats 40 million

To implement Customs Transit for Protocol-5, Myanma Insurance is often holding the pre-meetings with respective departments such as Land and Transport, Immigration and Customs.

  • To make inspection at cross-border checkpoints, Myanma Insurance has provided to join and implement with respective departments.
  • Instead of short term policies, annual policies will be provided later for regular customers.
  • Myanmar is now providing Compulsory Insurance Cover but not Voluntary Insurance Cover yet. To be fulfilling the implementation of Protocol-5 within timeframe, Myanmar is trying not only to 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.
  • 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 ACMI database via online. The cross-border checkpoints such as Myawady, Muse, Tachilek and Kalay (Tamu) are being provided to use internet in order to know the information when the claim occurs.