INDIA: REGULATOR FORMS WORKING GROUP TO LINK MOTOR PREMIUMS WITH TRAFFIC VIOLATIONS

Insurance regulators in India have set-up a working group to link motor premiums with traffic violations. The setting up of the group followed a request to the IRDA from the high powered committee for Traffic Management in the capital Delhi under the Chairmanship of the Union Home Secretary, to examine the issue of linking Insurance premiums with traffic records.

A move which is expected to improve compliance with rules and pave the way for more business for insurers.

Other terms of reference for the group include developing data fields required to apply traffic violations as a rating factor in motor Insurance and suggesting an access system to the traffic record of each vehicle and transfer of data from enforcement authorities to the insurance information Bureau of India.

One thought on “INDIA: REGULATOR FORMS WORKING GROUP TO LINK MOTOR PREMIUMS WITH TRAFFIC VIOLATIONS

  • September 11, 2019 at 11:24 pm
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