Compulsory Automobile Liability Insurance Act Article 45

(Formulation of Premium Rates)The premium rates of this insurance shall be formulated by the competent authority in coordination with the central authority for transportation and issued upon approval by a rate review committee comprised of impartial representatives of social justice.The formulation of premium rates under the preceding paragraph may be entrusted to an appropriate professional institution.In setting insurance premiums, consideration shall in principle be given to both personal and vehicular factors, provided that one or the other may be selected for use in view of actual societal circumstances.Insurers shall calculate and collect premiums on the basis of the premium rates issued by the competent authority in conjunction with the central competent authority for transportation and communications as provided in paragraph 1.The competent authority may engage a professional institution to provide public information services on premiums and other relevant matters.