If electronic insurance policies have been implemented locally, there is no need to affix the compulsory traffic insurance label on the vehicle. However, if electronic policies have not yet been implemented, the compulsory traffic insurance label must still be displayed. According to Article 95 of the Road Traffic Safety Law: If a motor vehicle driven on the road does not display the inspection qualification label or insurance label, or if the driver does not carry the vehicle registration certificate or driver's license, the traffic management department of the public security organ shall detain the vehicle, notify the party to provide the corresponding license, label, or complete the necessary procedures, and may impose penalties in accordance with Article 90 of this law (a warning or a fine of not less than 20 yuan but not more than 200 yuan). As of 2022, provinces and cities that have abolished the paper label for compulsory traffic insurance include: Beijing, Shanghai, Shandong, Shanxi, Guangdong, Henan, Hubei, Hunan, Jiangxi, Guizhou, Guangxi, Yunnan, Shaanxi, Hebei, Sichuan, and Gansu. Compulsory Traffic Insurance for Vehicles: The full name of compulsory traffic insurance is "Compulsory Liability Insurance for Motor Vehicle Traffic Accidents." It is a mandatory liability insurance where the insurance company compensates for personal injuries, deaths, and property losses of victims (excluding vehicle occupants and the insured) caused by road traffic accidents involving the insured vehicle, within the liability limits. The premium is based on the nationally unified standard rates. However, the price of compulsory traffic insurance varies depending on the vehicle type, with the main influencing factor being the number of seats. Compared to the more than 20 exemption clauses in commercial third-party liability insurance, compulsory traffic insurance covers a much broader range, including losses caused by intentional acts of the victim, the insured's own property losses, related arbitration and litigation costs, and certain indirect losses caused by accidents. Moreover, regardless of whether the insured vehicle is at fault in the accident, compulsory traffic insurance will provide compensation within the liability limits, with no deductible or exemption clauses. Introduction to Electronic Insurance Policies: An electronic insurance policy refers to an electronic policy issued by an insurance company using digital signature software and enterprise digital certificates that comply with the PKI system, bearing the electronic signature of the insurance company. An insurance policy, abbreviated as a policy, is the official written proof of the insurance contract between the insurer and the insured. The policy must fully record the rights, obligations, and responsibilities of both parties to the insurance contract. The content recorded in the policy serves as the basis for the performance of the contract by both parties. The insurance policy is proof of the establishment of the insurance contract. Advantages of Electronic Insurance Policies: Saves paper resources, eliminating the need to print insurance proof labels; Time-saving and convenient, unrestricted by time or location, with information readily available online anytime, fast and easy; Allows for reissuance and resending, eliminating worries about loss. If a paper version is needed offline, it can be printed or mailed; Easier management, as electronic unification makes it more convenient for insurance companies and traffic police departments to manage the insurance information of various vehicles.
