Driving without compulsory traffic insurance will result in a warning or a fine ranging from 20 to 200 yuan according to the "Road Traffic Safety Law." Article 95 stipulates: If a motor vehicle driven on the road does not display an inspection qualification mark or insurance mark, or if the driver fails to carry the vehicle registration certificate or driver's license, the traffic management department of the public security organ shall detain the vehicle and notify the party to provide the corresponding license, mark, or complete the required procedures. 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 (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 for different vehicle types, primarily influenced by the number of seats. Compared to the more than 20 exemption clauses in commercial third-party 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 some indirect losses caused by the accident. Moreover, regardless of whether the insured vehicle is at fault in the accident, compulsory traffic insurance will provide compensation within the liability limits. Introduction to Electronic Insurance Policies An electronic insurance policy refers to a digital policy issued by an insurance company with an electronic signature, using digital signature software and corporate digital certificates that comply with the PKI system. The insurance policy, abbreviated as the 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 both parties to fulfill the contract. The 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 marks on paper; Saves time and is convenient, unrestricted by time or location, with information universally accessible online anytime, quickly and easily; Allows for reissuance and resending, eliminating worries about losing it. If a paper version is needed offline, it can also be printed or mailed; Facilitates management, as electronic unification makes it easier for insurance companies and traffic police departments to manage the insurance information of various vehicles.
