The IRDAI notification comes in the wake of a recent Supreme Court order on the issue.
The Hush Post: From now on, getting one’s vehicle insured is going to be an arduous task for those who don’t possess a valid Pollution Under Control (PUC) certificate. In a bid to crack down on people who flout emission norms, the Insurance Regulatory and Development Authority of India (IRDAI) has come up with a notification directing the insurance companies not to insure vehicles which don’t carry a valid PUC certificate. The IRDAI notification comes in the wake of a recent Supreme Court order on the issue.
Insurance companies asked to display new rates
IRDAI has also asked the insurance company to make mandatory the third-party insurance. The insurance companies have been asked to display the new insurance rates in their offices and on their websites. Besides, the companies have been prevented from providing insurance on new rates after cancelling the present insurances.
IRDAI has specifically mentioned that legal action will be followed if an agent or a company is found indulging in such malpractices.
Meanwhile, the Ministry of Roadways and Transport had directed all the insurance companies to share the details of each and every vehicle which have been insured by them. This will make it easier for the ministry to identify those who haven’t got their vehicles insured.
According to the Insurance Information Bureau only 6.5 crore vehicles are insured out of the 21 crore vehicles registered in the country.