Is it mandatory to display the compulsory insurance label on vehicles?
1 Answers
It is mandatory to display the compulsory insurance label on vehicles. Compulsory insurance refers to insurance that must be participated in by units or individuals within the specified scope, regardless of their willingness, in accordance with relevant laws and regulations issued by the state. Generally, countries around the world designate compulsory motor vehicle third-party liability insurance as a type of compulsory insurance. Since compulsory insurance, to some extent, represents state intervention in individual will, its scope is strictly limited. According to relevant regulations, except for insurances mandated by laws and administrative regulations, insurance companies and any other units are not allowed to force others to enter into insurance contracts.