Advertisement

Committee Recommends Linking of Traffic Violations With Motor Insurance Premiums


Committee Recommends Linking of Traffic Violations With Motor Insurance Premiums
SHARES

A committee appointed by IRDAI (Insurance Regulatory and Development Authority) has put forth a recommendation to link traffic violations with motor premiums so as to encourage motorists to follow road rules and regulations. 

The nine-member committee published its report on Monday, adding “Traffic Violation Premium” to the insurance premiums. This committee included officials from Delhi Traffic Police, IRDAI, Insurance Information Bureau (IIB), as well as some insurance companies. 

Also readMumbai Local Train Accidents Continue To Increase Despite The Lockdown

“This section will float over both Own Damage and Third-Party sections of motor insurance and can be attached to any section of motor insurance cover being purchased, chiefly, Own Damage or Third-Party insurance,” the committee’s report said. 

“This will ensure, regardless of any insurance cover a motor owner wants to buy, he/she will be subjected to Traffic Violation Premium, unless he already has in force a motor insurance policy wherein traffic violation premium has already been paid,” it added.

Road accidents have been at a rise over the past couple of years, and authorities hope that the potential sting from additional premiums will keep motorists in check. 

ReadST Drivers To Undergo Safety Training Focused On Providing Accident-Free Services

RELATED TOPICS
Advertisement
MumbaiLive would like to send you latest news updates