Uninsured Vehicles: If your vehicle is not insured then it is possible that you will not get petrol or diesel and you will be asked to get it insured first. This discussion is happening because the insurance industry has come up with a proposal, which states that uninsured vehicles should not be allowed to fill oil at oil pumps.
According to an ET report, the insurance industry has made this proposal in view of the proposal for automobile insurance. The offer is a part of an offer made during the ‘Bima Manthan’ organized by the insurance regulator, Insurance Regulatory and Development Authority of India or IRDAI, earlier this month.
This app will tell whether you are insured or not
Along with presenting this proposal, an app has also been offered, which will be registered with M Parivahan and will tell which vehicle is insured and which is not. According to the report, if this proposal is accepted, then this app will be shared with oil companies and it will be available at every petrol station. Vehicles will be scanned by the camera scanner and this app will give information about the insurance status of the vehicle instantly.
54% vehicles not insured
According to the current regulation, it is mandatory to have third party motor insurance. The data of the insurance industry shows that 54 percent of the vehicles in the country are still without insurance. Most of these are commercial vehicles like tractors and three wheelers, which have not renewed their insurance. At the same time, something similar is being seen in two wheelers as well. The insurance industry believes that this will also increase the revenue of the government.
Loss from last few years
The insurance industry says that if the government presents this proposal, then insurance will be done immediately. According to a figure, at present the insurance size in the motor vehicle segment is more than 80,000 crores. The insurance industry has seen a decline of more than 80 per cent in the last few years.
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