The Minister of Transport released its Festive season road accident statistics which shows that the probability of drivers committing an accident is 8% with utility , where H stands for year income. The Minister further claims these Festive season road accidents cost the state (in terms of claims lodged) an average of R84 000 per annum. The Road Accident Fund is an insurance scheme providing compulsory indemnity cover to victims of vehicle accidents and taxi drivers. (c)Due to high accident rates in South Africa during the Festive season, the Road Accident Fund has issued a warning to government that the fund will be insolvent soon. Advise the Minister on the cost of insurance that can collapse the scheme.

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The Minister of Transport released its Festive season road accident
statistics which shows that the probability of drivers committing an
accident is 8% with utility , where H stands

for year income.

The Minister further claims these Festive season road accidents cost
the state (in terms of claims lodged) an average of R84 000 per annum.
The Road Accident Fund is an insurance scheme providing compulsory
indemnity cover to victims of vehicle accidents and taxi drivers.

(c)Due to high accident rates in South Africa during the Festive
season, the Road Accident

Fund has issued a warning to government that the fund will be
insolvent soon. Advise the Minister on the cost of insurance that can
collapse the scheme.

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