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Don't Panic After a Hit-and-Run or Uninsured Accident – Special Compensation Fund to the Rescue!

Don't Panic After a Hit-and-Run or Uninsured Accident – Special Compensation Fund to the Rescue!

The rights of victims of automobile traffic accidents are safeguarded! The Financial Supervisory Commission (FSC) reminds today (24th) that victims or their relatives can apply for compensation from the Special Compensation Fund for Automobile Traffic Accidents if they encounter accidents involving uninsured motorist liability or hit-and-run incidents, ensuring basic protection! This fund operates under Article 42 of the Mandatory Automobile Liability Insurance Act, which provides compensation and subsequently pursues recovery from the offender, upholding fairness and justice.

The FSC emphasizes the importance of preparing the police report, accident scene diagram, and medical documentation, urging the public to take immediate action to protect their rights! So far in 2024, the Special Compensation Fund has processed over 5,000 applications, with disbursements exceeding NT$1 billion. The application process requires a 'road traffic accident participant registration form,' accident scene photographs within seven days, an 'initial analysis report' after 30 days, and identification and medical certificates.

The Fund provides free application guidelines and traffic police will be on-site to assist victims with the application process. The Insurance Bureau of the FSC notes that many victims miss compensation due to unfamiliarity with the process; approximately 20% of applications were rejected for incomplete documentation in 2023. To address this, a toll-free hotline (0800-565-678) has been established, and more information can be found on the official website (https://www.mvacf.org.tw/). The public can also inquire through the public opinion mailbox or call (02-8968-0861) to ensure their rights are protected.