Leaders of Local Insurance Industry Advocate for Mandatory Auto Insurance in Courtesy Call on Governor Stevenson A. Joseph

Kolonia, Pohnpei: March 11, 2024 – In a proactive move towards enhancing road safety and securing the well-being of Pohnpei’s residents, Mr. Resio S. Moses, Jr., Owner and Manager of Moses Insurance Executives, and Mr. Melner Isaac, Manager of the Pohnpei branch of Moylans Insurance Underwriters, recently held a courtesy call with Governor Stevenson A. Joseph.

The primary agenda of the meeting was to address the absence of a mandatory third-party liability auto insurance framework for personally owned registered vehicles under Pohnpei State law or the Pohnpei State code. Currently, there is no requirement for such insurance coverage, a gap in regulations that the insurance leaders aim to rectify.

Governor Joseph, acknowledging a previous unsuccessful attempt to draft legislation during his tenure at the Legislature, recommended consulting with the State Attorney General to explore the possibility of drafting a new bill or amending the existing section in the Pohnpei State code related to vehicle registration.

While insurance requirements for commercially owned vehicles are already established in the Pohnpei State Code, discussions during the courtesy call delved into potential coverage and limits to ensure fairness. The leaders also explored strategies to attract additional insurance vendors to the market, aiming to drive down the cost of automobile insurance for Pohnpei residents.

Governor Joseph assured Mr. Moses and Mr. Isaac that he is committed to addressing this pressing issue and will keep them informed as discussions progress with the State Attorney General. The proposed framework for basic third-party liability auto insurance is a crucial step toward promoting responsible driving practices and safeguarding the interests of the community.