The Knesset recently passed the initial reading of a bill. If passed, it could mean lower motorcycle insurance rates. The government will create an inter-ministerial committee to devise a solution for dropping compulsory insurance rates. A decision is expected within 3 months. Should this bill pass, motorcyclists’ compulsory insurance pool will change. Currently, insurance companies do not profit from compulsory insurance for motorcyclists. For most riders they are covered by a state-mandated pool which currently runs at a deficit. It also has a cap, mandated by law, of 8%. The…
Read MoreMotorcyclists hope for lower insurance rates
