Overview

This Regulation, issued by the Ethiopian Council of Ministers on July 6, 2024, establishes the premium tariffs and compensation amounts for third-party vehicle insurance under Proclamation No. 799/2013.

Key Provisions

1. Premium Tariffs (Schedule “A”)

Sets annual premium rates for various vehicle categories, with amounts shown in Ethiopian Birr (ETB ‘000):

Private Vehicles (Own Use):

• ≤1600 CC: 2,641 ETB
• 1601-2000 CC: 3,039 ETB
• 2001-3000 CC: 3,301 ETB
• 4000 CC: 3,830 ETB

Minibuses:

• Own use: 7,753 ETB
• Public service: 11,292 ETB

Buses: Ranging from 6,342 ETB (small commercial private) to 11,550 ETB (large commercial public)

Trucks: Rates vary by size/weight, from 2,952 ETB (small pickups) to 18,137 ETB (heavy trucks commercial use)

Other vehicles include: Tankers, trailers, construction/agricultural vehicles, motorcycles, three-wheeled vehicles, and motor trade vehicles

2. Compensation Amounts (Schedule “B”)

Sets maximum compensation limits for third party claims:

• Bodily Injury: Up to 250,000 ETB
• Death: 30,000 ETB (minimum) to 250,000 ETB (maximum)
• Property Damage: Up to 200,000 ETB
• Emergency Medical Treatment: Up to 15,000 ETB

Legal Basis

• Implements Ethiopia Vehicle Insurance Against Third Party Risks Proclamation No. 799/2013
• Issued pursuant to Article 4(4) and Article 16(5) of Proclamation No. 799/2013. It basically repeals/amends Article 16(1) of proclamation No. 799/2013. It also repeals Council of Ministers Decision No. 4/መስ17/ው68/2003.

Effective Date

July 30, 2024