Calculation of compensation for victims of traffic accidents

Conakry, June 24, 2019

REPUBLIC OF GUINEA
CENTRAL BANK

INSTRUCTION N°I/08/19/REA/RELATING TO THE MINIMUM AMOUNT TO BE USED AS THE BASIS FOR CALCULATING COMPENSATION FOR VICTIMS OF TRAFFIC ACCIDENTS.

THE GOVERNOR

Having regard to Law L/2014/016/AN of July 02, 2014, amended and supplemented by Law L/2017/017/AN of June 08, 2017, on the statutes of the Central Bank of the Republic of Guinea;

Having regard to Law L/2016/034/AN of July 28, 2016, on the Insurance Code in the Republic of Guinea;

Having regard to Decree N° D/2010/004/PRG/SGG of December 27, 2010, appointing the Governor of the Central Bank of the Republic of Guinea;

Having regard to Instruction N°I/96/12/REA/relating to the minimum amount to be used as the basis for calculating compensation for victims of traffic accidents

DECIDES:

Article 1:
The basic amount for calculating compensation for bodily injury resulting from traffic accidents is set in accordance with the amount of the SMIG.

Article 2:
The above amount is multiplied by twelve (12) to determine the annual amount.

The annual amount thus obtained is multiplied by the number of times indicated in the Insurance Code for setting the compensation ceilings provided for in Articles 107 et seq. of the same code.

Article 3:
This Instruction, which takes effect from its date of signature, repeals all previous contrary provisions and shall be registered and published in the Official Journal of the Republic.

Conakry, June 24, 2019

(Signature)
Dr Lounceny NABE

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