ZAKHELE MTHEMBU: The RAF’s state mandate should be abolished
Road accident insurance market should be open to competition
12 July 2023 - 05:00
SA drivers and, thanks to the woes of Transnet, the broader SA public fund the Road Accident Fund (RAF). With this state-mandated fund facing financial challenges and taking to court those who try to hold it accountable, it serves as another salient example of how woefully inept the state is commercially.
The Road Accident Fund Act of 1996 established the current iteration of the RAF. Before the adoption of the new constitution in 1996, the fund that compensated parties involved in road accidents was called the Multilateral Motor Vehicle Accidents Fund, established by an act of the same name in 1989...
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