Know about Commercial Truck Insurance Industry

Know about Commercial Truck Insurance Industry

Car insurance (also known as car insurance, car insurance, or car insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Its main purpose is to provide financial protection against physical damage or personal injury as a result of traffic accidents and against liability that may arise from incidents in a vehicle. The motor vehicle insurance can also offer financial protection against theft of the vehicle and against damage to the vehicle caused by events other than traffic accidents such as keying, weather or natural disasters as well as collisions with stationary objects. The specific conditions of car insurance vary depending on the legal requirements in the individual regions.

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Leading players of Commercial Truck Insurance Industry:

Assicurazioni Generali, Metlife, AXA, China Life Insurance, Old Mutual, Nippon Life Insurance, Samsung, State Farm Insurance, Allianz, Munich Reinsurance, Ping An, Sumitomo, HSBC, Aetna, MS&AD, Zurich Insurance, Aegon

The automobile began to be widely used in urban areas after the First World War. At the time, cars were relatively fast and dangerous, but there was no compulsory form of car insurance anywhere in the world. This meant that injured victims in an accident rarely received compensation, and drivers often had significant costs for damage to their car and property.

The Road Traffic Act of 1930 introduced compulsory car insurance in the UK for the first time. This ensured that all vehicle owners and drivers had to be insured for their liability for injury or death to third parties while their vehicle was used on the public road. Germany passed a similar law in 1939 called the Law on the Introduction of Compulsory Insurance for Motor Vehicle Owners.

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