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Background of MVA Fund

MVA FUND MANDATE


We derive our mandate from the MVA Fund Act Number 15 of 2007. This Act prescribes that the Fund is established to:

 

  •  Provide compensation in the form of benefits.
  •  Provide third party insurance cover to drivers and owners of motor vehicles.
  •  Promote road safety and accident prevention: and
  •  Deal with all matters incidental to the carrying out of all the above.

 

HISTORICAL BACKGROUND


The MVA Fund, formally Motor Vehicle Insurance Fund was enacted in 1986. It however started operating in January 1987. At the time, the Fund was mandated to provide compensation for certain loss or damage arising out of motor vehicle accidents.


The Act was later amended by the MVA Fund Act No. 6 of 1998 mainly to:
 

  • Address issues pertaining to sustainability of the Fund and,
  • Introduce new caps and limitations in the cover.


The two Acts of 1986 and 1998 were fundamentally the same as they both stipulated that the Fund’s liability be predicated upon the fault of the driver. This is contrary to the current Act which provides for automatic cover of claimants, irrespective of the cause of accident.
 

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