One-size-fits-all Insurance

                                                                                               [Photo by Chor Sokunthea of the Khmer Times]
A new insurance law is being proposed for Cambodia where there currently is no required vehicle insurance.  The photo above suggests why insurance might be advisable.  An average of four to six people a day are killed in Cambodian traffic.

Under the new law–which probably will not be passed and implemented for at least five years–motorcycles would pay a premium of $17 per year, small cars $70, and large cars $80.  If there is an accident with injuries, there will be a payout of $580.  If there is a death, $3,000.  That’s about all that has been proposed so far and leaves many questions, for example, what if there is an accident with no injuries?  No payout?