Saar: IRDA has also been directed to ask insurance issuers to submit their compliance report by June 15, 2018.
It was in August last year when the Supreme Court of India issued a directive that without a valid pollution under control (PUC) certificate, issuance or renewal of motor insurance will not happen. This step was one of several steps taken to curb the rising levels of air pollution. Now though, according to a report by TOI, the Ministry of Road Transport and Highways (MoRTH) has reiterated the Insurance Regulatory and Development Authority of India (IRDAI) with the same ruling.
Additionally, MoRTH has also asked the central insurance regulator to direct all the companies to submit their respective compliance reports by June 15, 2018. MoRTH will also shoot out letters to about two dozen insurance companies in the country. That letter reportedly read:
“The Supreme Court has directed vide its order dated August 10, 2017, that the insurance companies will not insure a vehicle unless it has a valid PUC certificate on the date of the renewal of the policy. It may further be noted that fitness certificate is also a mandatory requirement for all valid registered transport vehicles.”
MoRTH has also set April 2019 as the deadline for uploading emission reports of all kinds of vehicles plying on the road online. What remains to be seen is how dedicated were the insurance companies to enforce the ruling passed by the Supreme Court of India over nine months ago.
Needless to say but no vehicle is allowed to be on the roads without a valid insurance or a PUC certificate. As per IRDA records, nearly 50 per cent of the vehicles plying on the roads are uninsured. To address that, the insurance regulator recently proposed to design multi-year insurance policies two- and four-wheelers in the country. Earlier in the year, it also slashed the insurance premiums for personal vehicles by up to 10 per cent and for taxies by 17 per cent.
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