On Nov. 1, ARG INS introduced coverage limits for motor vehicles.
ARG INS published Resolution 551/2024 to introduce an update to the new coverage limits of insured amounts and deductibles of the motor vehicle liability insurance.
New coverage limits for public passenger transport, private vehicles, and trailers.
Coverage Limits
Impact coverage for public transport, private, towed vehicles, and those operating through technological platforms, ensuring amounts remain consistent with risks.
Aims to ensure that the insured amounts reflect the real risk of the vehicles covered.
Greater predictability and support to individuals and companies contracting coverage.
Public transportation up to $520 million per event for damages to people and property.
Additionally, the private and towed vehicles up to $160 million in accident cases.
Technology platforms coverage up to $350 million for vehicles in this type of service.
Commitment to adequate protection of policyholders, an efficient insurance market.
Effectiveness
Resolution 551/2024 will come into force on Jan. 1, 2025.
