The Purpose of Establishing MVACF
The Motor Vehicle Accident Compensation Fund is established in accordance with the provision of Article 38 of the Compulsory Automobile Liability Insurance Act in order to secure basic compensation for victims in automobile traffic accidents.
Conditions Apply for Compensation
Claimant who cannot get insurance benefits in accordance with the Act due to the following conditions may claim for compensation of the Fund within the amount stipulated by the Act: Claimant may apply for compensation of the Fund based on the amount insured:
- (1) An accident vehicle cannot be traced.
- (2) An accident vehicle is an uninsured automobile.
- (3) An accident vehicle is an insured automobile that was used or managed without the consent of the insured.
- (4) All or some of the accident vehicles are ones for which establishment of a contract for this insurance is not required.