Why is there no Automobile Insurance in Pakistan?

[JohnyD]

Auto insurance is not that profitable, compared to other insurances.... to make things worse - the auto dealers, they rely on income from insurance to a great extent, and they do lot of malpractices

I am particularly against the compulsory insurance for two wheeler..!

India is the country where life insurance is not mandatory but two wheeler bike must be ensured!!!

 

[nair]

India is also a country which has highest no of 2 wheeler accidents a deaths... It should be mandatory, it not only protect the rider but also the pedestrians

I am particularly against the compulsory insurance for two wheeler..!

India is the country where life insurance is not mandatory but two wheeler bike must be ensured!!!

 

[Jaam92]

you will amazed to watch a bad condition 1970s vehicles on the roads of Pakistani cities
then how can you expect insurance of Vehicles running on the roads of Pakistan

 

[JohnyD]

India is also a country which has highest no of 2 wheeler accidents a deaths... It should be mandatory, it not only protect the rider but also the pedestrians

Dear, it doesn't protect the rider or the victim, personal accidental damage cover is optional and we have to pay more for that...It protects only the damages done to vehicles, which is mandatory..Isn't it so ridiculous?

 

[nair]

Dear, it doesn't protect the rider or the victim, personal accidental damage cover is optional and we have to pay more for that...It protects only the damages done to vehicles, which is mandatory..Isn't it so ridiculous?

Well for personal coverage you will have to pay extra i agree..... But in case of a third party - Insurance coverage is applicable.... Let us say X met with an accident and hit Y and died, the Y get the insurance coverage.....

 

[v9s]

A-Future is a derivative not trading futures is called a derivative.

Yeah yeah..that's what I meant, and you know it - no need to be a smart ***.

B-Futures can be deliverable i.e. Exchange of underling takes place at maturity or cash settled I.e. difference in the future price and spot price is paid up (daily settled in case of future I.e. M2M) but it doesn't mean future doesn't have any underlying. If it doesn't as u put it, it doesn't qualify to be called a derivative (a security which drives it value from underlying). It's due to the same cash settlement it's not permitted I.e. money exchanged for money at inequality a variant of ribba.

It's funny how you rewrote what i just said. Maybe you misunderstood - or you're trying to annoy me. I know futures contracts prices are determined by an underlying asset (which is why it is called a derivative - it derives its price from that asset) - anybody with google can tell you that. I said 99% of futures contracts are cash-settled on maturity and aren't physically settled with the underlying asset.