Compulsory Insurance

Business, Legal & Accounting Glossary

Definition: Compulsory Insurance



Full Definition of Compulsory Insurance


Certain classes of person are required by statute to take out a policy of insurance in respect of the liabilities to others. These include motorists (Road Traffic Act (1988)), and employers (Employers’ Liability (Compulsory Insurance) Act (1969)). There are currently plans to impose compulsory insurance on doctors and dentists, and providers of pension schemes.


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Compulsory Insurance. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/compulsory-insurance/ (accessed: October 20, 2020).
American Psychological Association (APA):
Compulsory Insurance. PayrollHeaven.com. Retrieved October 20, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/compulsory-insurance/

Definition Sources


Definitions for Compulsory Insurance are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 5th April, 2020 | 1 Views.