Significant Issues of Legal Regulation of Vehicle Owners’ Civil Liability Insurance in Georgia

Abstract

The article deals with vehicle owners’ civil liability insurance as the third party car insurance and social mechanism of security and highlights its significance under present conditions. On the basis of an analysis of the constitutional practices, it studies Georgian law on vehicle owners’ civil liability insurance, whether it was expedient to abolish the previous law and anticipated results that would follow enactment of a new law and undoubtedly occur in case of introducing vehicle owners’ civil liability insurance in respect of all motor vehicles, not limited to transit cars only. The article encompasses recommendations and modest suggestions. The work compiles the results of the research based on vehicle owners’ awareness survey of the law on insurance and their attitudes towards it. It also concerns a shortage of financial education in Georgia, which hinders establishment of “Insurance Ethics”.