The Second Meeting of Insurance Sub-Committee of the Transit Transport Coordination Council (TTCC) was held at the headquarters of the Central Insurance of Iran in Tehran on 20 July, 2008. It was attended by delegations from seven ECO Member States, namely the Islamic Republic of Afghanistan, the Islamic Republic of Iran, the Republic of Kazakhstan, the Kyrgyz Republic, the Islamic Republic of Pakistan, the Republic of Tajikistan, and the Republic of Turkey, as well as a delegation of the ECO Secretariat and the Honorary Director General of the International Road Federation.
The Meeting was inaugurated by His Excellency Dr. Javad Farshbaf Maherian, the President of the Central Insurance of Iran. In his inaugural statement, Dr. Farshbaf Maherian highlighted the importance of the Third Party Liability Insurance in facilitating Transit Transport in the ECO Region. The ECO Secretary General, Khurshid Anwar, speaking during the inaugural session expressed the hope that the ECO White Card would contribute to competitiveness of the member states through reducing cross-border transport cost.
The meeting considered at length and adopted the draft ECO Interim Motor Vehicle Third Party Liability Insurance Scheme. The adopted version of the Scheme would be submitted to the Extraordinary Meeting of the TTCC (21 July, 2008, Tehran) for approval.
The Meeting agreed on specific measures and activities to ensure that the ECO White Card was initiated and operated effectively. A draft action plan was considered for that purpose.
The ECO College of Insurance expressed its readiness to extend scholarships to students from ECO Member States and organize training courses, workshops and other programmes on the subject. The Central Insurance of Iran, through Insurance Research Center and in collaboration with the ECO College of Insurance, would help to organize short-term training courses to enhance the technical capacity of the member states to implement the Scheme.
In accordance with Articles 4.1 to 4-10, Section II of the Scheme the Meeting decided to establish the ECO Council of Bureaux (ECO-CB). It would be responsible for the successful operation of the Scheme. It will coordinate and supervise the financial, technical and legal operations of the National Bureaux related to the Scheme.
As per sub-para 3, Article 3, Annex-V of the TTFA, the Member States were requested to determine, within three months, a specific national insurance company or other specialized organization authorized to participate in the proposed interim insurance scheme as their National Bureau and convey its contact information to the Secretariat.
The Meeting also agreed on the ways to enhance cooperation between the ECO and the International Road Federation (IRF).
[Home] [Contact us] [Feedback] [Back]