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Automobile Insurance Requirements Changing (Huh?)


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According to the following article, automobile insurance is now becoming a legal requirement. This confuses me because I have always been told (I've been here for 15 years) that automobile insurance was a requirement for registration and license plate renewals. What am I missing here?

http://www.centralamericadata.com/en/article/main/Panama_Approves_Mandatory_Car_Insurance

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5 minutes ago, Bud said:

According to the following article, automobile insurance is now becoming a legal requirement. This confuses me because I have always been told (I've been here for 15 years) that automobile insurance was a requirement for registration and license plate renewals. What am I missing here?

http://www.centralamericadata.com/en/article/main/Panama_Approves_Mandatory_Car_Insurance

Exactly ! 

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The headline is misleading. The real story is in the byline.

"Insurers are obliged to cover accidents involving alcohol consumption"

Currently Insurers can refuse to pay costs of an accident if a driver is impaired.

Of course, the consequences of this legislation is that Insurers will be paying out a lot more in claims and premiums will rise.

Edited by Keith Woolford
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On March 5, 2016 at 11:30 AM, Keith Woolford said:

The headline is misleading. The real story is in the byline.

"Insurers are obliged to cover accidents involving alcohol consumption"

Currently Insurers can refuse to pay costs of an accident if a driver is impaired.

Of course, the consequences of this legislation is that Insurers will be paying out a lot more in claims and premiums will rise.

Keith, thanks for the clarification. I'm chalking off my confusion to advancing age.

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