Magazine date:
Apr 2006 Despite the sharp fall from 70% to 15% in the percentage of non-insured vehicles, the top management of the Fonds de Garantie Automobile (FGA) believes that in order to clean up the insurance business, the legislation regulating FGA since 1997 needs to be reviewed. FGA is funded by a 50% tax levied on the amounts resulting from road accidents damages for which the vehicle owner has not underwritten any insurance cover. FGA also runs the Brown Card, a document defined by the protocol signed on May 29, 1982 in Cotonu (Benin) by 15 West African countries. The Brown Card CEDEAO is the regulatory framework for the compensation of victims of road accidents caused by a vehicle from one of the member states.