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January 3, 2018
Regulator IRDAI has asked non-life insurers to ensure easy availability of third party motor insurance cover to vehicle owners, a move that will help states in implementing the Supreme Court order on road safety.The Supreme Court Committee on Road Safety had directed the states and union territories to periodically carry out checks to see whether vehicle owners have third party insurance cover.
The IRDAI circular follows complaints by states that cumbersome process of obtaining third party insurance is hampering implementing the apex court order. Several states, the Irdai circular said, have reported that insurers have a cumbersome process that involves inspection of the vehicle concerned and that vehicle owners have complained that it is not an easy process to obtain insurance.
In order to ensure ease of obtaining motor insurance liability, IRDAI said that “Insurers (non-life) shall ensure the easy availability of Motor TP Insurance and in no case can a request for a TP cover be denied”. It also asked them to liaise with the police authorities to facilitate issue/renewal of third party liability policy to owners of the vehicles who are not having third party cover.
The insurers have also been asked to provide facility to make available facility for obtaining online Motor TP.