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Vision Zero Insurance: A New Approach to Achieving Road Safety Goals.

Authors :
Kumaresan, Vinitha
Source :
Journal of the Insurance Institute of India; Jul-Sep2023, Vol. 11 Issue 1, p70-77, 8p
Publication Year :
2023

Abstract

Vision Zero Insurance is a new approach to road safety that combines the principles of the Vision Zero framework with insurance incentives. The concept proposes linking insurance premiums to driving behaviour, rewarding safe driving behaviour and increasing premiums for risky driving behaviour. In addition, the concept includes a victim compensation fund financed through a small surcharge on insurance premiums. Vision Zero Insurance aims to incentivize safer driving behaviour and reduce the number of road accidents, while also providing support to victims of these accidents. This paper proposes a new approach to road safety, called Vision Zero Insurance, which incentivizes safe driving behaviour and provides financial support to victims of road accidents and complements traditional methods of reducing accidents and help achieve goal of zero fatalities and serious injuries on roads. The concept also includes a victim compensation fund to provide financial support to victims of road accidents, regardless of fault. [ABSTRACT FROM AUTHOR]

Details

Language :
English
Volume :
11
Issue :
1
Database :
Complementary Index
Journal :
Journal of the Insurance Institute of India
Publication Type :
Academic Journal
Accession number :
175512436