A new insurance regulation concerning mandatory traffic insurance will take effect on December 5, 2024. The existing policy that allowed a 15-day validity period for the insurance after the transfer of vehicle ownership will be discontinued. This change aims to reduce the percentage of uninsured vehicles on the roads and to safeguard the rights of previous vehicle owners during the sales process. Industry experts anticipate that the new rules will significantly benefit the sector by promoting compliance and enhancing consumer protection.
