For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

IRDAI Likely To Link Motor Insurance Premiums With Traffic Violations

|

In an order dated 6 September, the Insurance Regulatory and Development Authority of India (IRDAI) has set a Working Group to examine the establishment of a system of linking of motor insurance premium with traffic violations on a pilot basis in the National Capital Territory, Delhi.

IRDAI Likely To Link Motor Insurance Premiums With Traffic Violations
 

Following the implementation of the Motor Vehicles Amendment Act on 1 September in the Delhi region, e-challans are being issued against owners and drivers involved in the violation of traffic rules through the Automated Traffic Enforcement. IRDAI has been receiving suggestions that linking insurance premium to traffic violations committed, as followed in developed countries like the US, could reduce road accidents and improve driving behaviour among Indians.

"ln this regard, the High Powered committee for Traffic Management in the National capital rerritory (NCT) of Delhi under chairmanship of Union Home secretary requested lnsurance Regulatory and Development Authority of lndia (lRDAl) to examine the issue of linking insurance premium with traffic violations. subsequently, in a meeting held under the chairmanship of special Commissioner of Police: Traffic, Delhi on lntegration of lnsurance and Traffic Prosecution Data, it was decided that a Working Group will be formed to take the idea forward," the order said.

The Working Group has to submit its report in eight weeks time from the date of the order.

Story first published: Saturday, September 7, 2019, 16:36 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more