Deputy Transport Minister for Administration, J. Levi Demmah, has disclosed that over 30,000 vehicles have been insured since the launch of the Third Party Insurance Scheme early this year.
Minister Demmah said the Third Party Insurance Scheme is not new as this policy was first introduced in 1972 and re-introduced in 1978.
The Deputy Transport Minister made the disclosure Monday in an interview with Liberia News Agency at the opening ceremony of the 36th Annual Conference of the West African Insurance Companies Association (WAICA) held at the Monrovia City Hall.
He noted that the Third Party Insurance Scheme has also created jobs for more than 200 young graduates within the insurance industry, saying government expects vehicle owners to comply by insuring their vehicles voluntarily.
He stressed that the amount to insure a vehicle is reasonable for every vehicle owner to be able to meet up with the requirement.
Minister Demmah stressed that it was important for more insurance companies in Liberia to become members of the West African Insurance Companies Association (WAICA), a sub-regional insurance body.