The Supreme Court Committee on road safety had given its report and directions to all General Insurance Companies to provide Third Party Insurance cover for new cars & new two wheelers on grounds of road safety guidelines.
Based on this report, the Apex Court, while hearing a PIL seeking guidelines for road safety has now ordered that “There should be mandatory Third Party Insurance Cover of 3 years for new cars and 5 years for new two wheelers to be sold w.e.f., 1st September, 2018.
It goes without saying that the Insurance Regulatory & Development Authority (IRDA) has to make sure that all General Insurance Companies have to mandatorily provide third party insurance cover, renew the third party insurance cover and link with police authorities in solving issues related to this coverage.
Dr. Gubbi. S. Subba Rao
Counselor & Advocate