Link traffic offences with insurance premium: IRDAI committee
By
Venkatachari Jagannathan ( IANS) |
Published on
Tue, Jan 19 2021 19:12 IST |
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Link traffic offences with insurance premium: IRDAI committee. Image Source: IANS News
Chennai, Jan 19 : Fined for parking in the no-parking area a couple of times? Be ready to pay an increased insurance premium for the traffic violation.
But don t ask how parking in no-parking area would increase the accident rate and the claims outgo for the insurers.
A Working Group set up by the Insurance Regulatory and Development Authority of India (IRDAI) submitted its report on Monday, recommending linking of motor insurance premium to various traffic violations that ranges from parking in no-parking areas to drunken driving.