Mandatory Auto Insurance Coverage Increased; Death and Disability Claims Up to NT$3 Million Starting July 1

The Financial Supervisory Commission (FSC) announced today that it will amend the 'Mandatory Automobile Liability Insurance Benefit Standards.' Starting July 1, the benefit amount for death and first-degree disability will be increased from the current NT$2 million to NT$3 million, without increasing individual insurance premiums. Chen Ching-yuan, Deputy Director-General of the Insurance Bureau, stated that considering the size of the insurance reserve and improvements in loss ratios, the coverage will be increased to strengthen protection. Medical expenses will remain capped at NT$200,000. The new policy applies to accidents occurring on or after July 1, including existing contracts. Regarding gender-based premium differences, the FSC plans to maintain the status quo.