Objective

This Sub-Fund was established for the purpose of providing compensation to victims of Hit & Run accidents.
 
The Hit and Run Sub-fund has been set up under the IICF through the contribution of insurers for the payment of compensation to persons suffering from personal injury sustained in a hit and run road traffic accident.
 
The Insurance Industry Compensation Fund (the ‘IICF’) pursuant to the Insurance (Industry Compensation Fund) Regulations 2015 (the Regulations 2015) was amended in September 2018 to:
 
  • increase the amount of compensations paid to victims of hit and run;
  • reduce the time limit within which the victim or legal guardian or their of a victim can make a claim after the hit and run accident from 6 months to 3 months.
 
To assess a claim from a victim of ‘Hit and Run’, The Managing Committee and the Technical Sub-Committee(s) work closely and rely on the collaboration of the police.
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