Motor Insurance I

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MOTOR INSURANCE DEALS WITH FOLLOWING LOSSES DUE TO USE OF VEHICLE :LOSS OR DAMAGE TO VEHICLE ITSELF
ACCIDENTAL INJURY / DEATH OF THIRD PARTY PROPERTY DAMAGE OF THIRD PARTY

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HISTORY OF MOTOR INSURANCE

1894 - FIRST CAR WAS INTRODUCED IN U.K. 1895 - FIRST INSURANCE POLICY WAS ISSUED COVERING THIRD PARTY LIABILITY. 1899 OWN DAMAGE WAS ADDED. 1930-1934 ACT WAS PASSED MAKING THIRD PARTY INS. COMPULSORY.
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1939 MOTOR VEHICLE ACT WAS PASSED IN INDIA.

1946 PROVISION OF COMPULSORY T.P. INS. WAS INTRODUCED. 1988 M.V.ACT OF 1939 WAS REPLACED.
1989 THIS NEW ACT BECAME EFFECTIVE FROM 01-07-1989

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APPLICABILITY OF BASIC PRINCIPLES

UTMOST GOOD FAITH INSURABLE INTEREST INDEMNITY SUBROGATION CONTRIBUTION PROXIMATE CAUSE
TYPES OF MOTOR VEHICLES

DEFINITION OF MOTOR VEHICLE AS PER M.V.ACT,1988
ANY MECHANICALLY PROPELLED VEHICLE ADAPTED FOR USE UPON ROADS
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TYPES OF MOTOR VEHICLES

MOTOR VEHICLES ARE BROADLY CLASSIFIED INTO FOLLOWING THREE CATAGORIES : PRIVATE CARS USED FOR SOCIAL,DOMESTIC,PLEASURE & ROFESSIONAL PURPOSES
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TWO WHEELERS USED WITH OR WITHOUT SIDE CAR FOR ABOVE PURPOSES
COMMERCIAL VEHICLES ALL OTHER VEHICLES
CLASSIFICATION OF COMMERCIAL VEHICLES

GOODS CARRYING
a) PRIVATE CARRIERS CARRYING OWN GOODS b) PUBLIC CARRIERS CARRYING GOODS FOR HIRE OR REWARD
PASSENGER CARRYING USED FOR HIRE OR REWARD (BUSES, AUTOS, TAXIES etc.)
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MISC. & SPECIAL TYPE VEHICLES

AGRICULTURE TRACTORS, AMBULANCES, CRANES, DUMPERS, FIRE BRIGADE, BULLDOZERS, BREAKDOWN VEHICLES, EXCAVATORS, CINEMA FILM RECORDING & PUBLICITY VANS, ROAD ROLLERS, DISPENSARIES etc.
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COMPULSORY THIRD PARTY INSURANCE

AS PER M.V.ACT,1939 AND AS AMENDED IN 1988, EVERY MOTOR VEHICLE MUST BE COMPULSORILY INSURED FOR ANY ACCIDENTAL INJURY / DEATH AND / OR PROPERTY OF THIRD PARTY.
CHAPTERS X,XI & XII OF M.V.ACT,1988 DEALS WITH THIS COMPULSORY INSURANCE
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INDIA MOTOR TARIFF
IN INDIA, MOTOR INS. HAS BEEN GOVERNED BY THIS TARIFF, ISSUED BY TAC, REVISED FROM TIME TO TIME LATEST EFFECTIVE FROM 01-07-2002. THIS TARIFF HAS LAID DOWN RULES, REGULATIONS, RATES, ADVANTAGES, TERMS AND CONDITIONS FOR TRANSACTING MOTOR INSURANCE.
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TYPES OF POLICIES
LIABILITY ONLY POLICY (THIRD PARTY) PACKAGE POLICY T.P.+ FIRE & THEFT FIRE & THEFT ONLY
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LIABILITY ONLY POLICY

APPLICABLE TO ALL CLASSES OF VEHICLES WITH SUITABLE CHANGES
IN LIMITATIONS AS TO USE.
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SCOPE OF COVER
COVERS INSUREDS LEGAL LIABILITY ARISING OUT OF USE OF VEHICLE, IN RESPECT OF : a) DEATH OF OR BODILY INJURY TO ANY THIRD PARTY,AS PER M.V. ACT - UNLIMITED. b) THIRD PARTY PROPERTY DAMAGE (LIMIT SPECIFIED IN POLICY) 16
INCLUDING CLAIMANTS COST & EXPENCES.

INCLUDING INSUREDS COST & EXPENCES, IF INCURRED WITH THE WRITTEN CONSENT OF INSURERS. INDEMNIFICATION FOR ANY OTHER PERSON DRIVING ON BEHALF OF INSURED,PROVIDED POLICY TERMS & CONDITIONS OBSERVED. 17
IN CASE OF INSUREDS DEATH, HIS PERSONAL REPRESENTATIVE WILL BE INDEMNIFIED.

INSURERS HAVE THE RIGHT OF REPRESENTATION IN ANY INQUIRY OR TO DEFEND IN THE COURT OF LAW.
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AVOIDANCE OF CERTAIN TERMS AND RIGHTS OF RECOVERY

NO POLICY CONDITION OR ENDORSEMENT WILL EFFECT ANY INDEMNIFICATION UNDER THE POLICY WHICH IS TO BE AS PER M.V.ACT. BUT THE INSURER CAN RECOVER THE AMOUNT FROM THE INSURED IN CASE OF LIABILITY BEYOND POLICY COVERAGE.
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PERSONAL ACCIDENT COVER TO OWNER -DRIVER

WHILE DRIVING, MOUNTING INTO OR DISMOUNTING FROM OR TRAVELLING IN THE VEHICLE AS CO-DRIVER.
FOR BODILY INJURY / DEATH CAUSED BY VOILENT, ACCIDENTAL, EXTERNAL AND VISIBLE MEANS WITHIN 6 MONTHS OF INJURY.
SUM INSURED Rs. 2 LAKHS (AS PER SCALE OF COMPENSATION)
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PROVIDED
DEATH OR INJURY NOT ARISING OR RESULTING FROM : a) INTENTIONAL SELF INJURY, SUICIDE OR ATTEMPTED SUICIDE, PHYSICAL DEFECT;
b) ACCIDENT HAPPENING UNDER THE INFLUENCE OF INTOXICATING LIQUOR OR DRUGS 21
GENERAL EXCEPTIONS
THE COMPANY HAS NO LIABILITY IN CASE : THE VEHICLE IS BEING DRIVEN OTHER THAN AS PER LIMITATIONS AS TO USE DRIVER NOT SATISFYING CONDITIONS OF DRIVER CLAUSE ANY CONTRACTUAL LIABILITY
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DEATH OR INJURY OF AN EMPLOYEE DURING THE COURSE OF HIS EMPLOYMENT, EXCEPT AS PER W.C.ACT;
DEATH OR INJURY TO ANY PERSON BEING CARRIED IN THE VEHICLE, EXCEPT UNDER CONTRACT OF EMPLOYMENT; LIABILITY ARISING OUT OF WAR LIKE PERILS OR USE OF NUCLEAR MATERIAL
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GENERAL POLICY CONDITIONS

1. WRITTEN NOTICE OF CLAIM 2. NO ADMISSION, OFFER OR PAYMENT WITHOUT WRITTEN CONSENT OF THE INSURER. 3. VEHICLE TO BE MAINTAINED IN GOOD CONDITION AT ALL TIMES. 4. CONTRIBUTION TO CLAIM IN CASE OF MORE THAN ONE POLICY. 5. CONDITION OF ARBITRATION
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PACKAGE POLICY PRIVATE CAR

THE POLICY HAS FOLLOWING THREE SECTIONS : SECTION I SECTION II SECTION III OWN DAMAGE THIRD PARTY LIABILITY PERSONAL ACCIDENT COVER TO OWNER DRIVER
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SECTION I OWN DAMAGE
THE COMPANY WILL INDEMNIFY AGAINST LOSS OR DAMAGE TO THE INSURED VEHICLE CAUSED BY
a) FIRE, EXPLOSION, SELF IGNITION OR LIGHTNING; b) BURGLARY HOUSEBREAKING OR THEFT; c) RIOT & STRIKE;
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d) EARTHQUAKE;
e) FLOOD, TYPHOON, HURRICANE, STORM, TEMPEST, INUNDATION, CYCLONE, HAILSTORM, FROST
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f) ACCIDENTAL EXTERNAL MEANS;

g) MALICIOUS ACT; h) TERRORIST ACTIVITY; i) WHILST IN TRANSIT BY ROAD, RAIL, INLAND WATERWAY, LIFT, ELEVATOR OR AIR; j) LANDSLIDE / ROCKSLIDE
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PRIVATE CAR PACKAGE POLICY

SUBJECT TO DEDUCTION FOR DEPRECIATION AS PER RATES BELOW IN RESPECT OF PARTS REPLACED : FOR ALL RUBBER, NYLON, PLASTIC PARTS, TYRES & BATTERY 50%
FOR FIBRE GLASS COMPONENTS - 30%

FOR GLASS PARTS NIL 29
PRIVATE CAR PACKAGE POLICY

4.
RATES OF DEPRECIATION FOR ALL OTHER PARTS (METALLIC) INCLUDING WOODEN PARTS ARE ACCORDING TO THE AGE OF THE VEHICLE AND ARE SPECIFIED IN THE POLICY.
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EXCLUSIONS : THE INSURER SHALL NOT BE LIABLE TO MAKE ANY PAYMENT IN RESPECT OF :-
a) CONSEQUENTIAL LOSS, DEPRECIATION, WEAR & TEAR, MECHANICAL AND ELECTRICAL BREAKDOWN, FAILURES OR BREAKAGES;
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b) DAMAGE TO TYRES & TUBES UNLESS THE VEHICLE IS DAMAGED AT THE SAME TIME IN WHICH CASE THE LIABILITY OF THE CO. SHALL BE LIMITED TO 50% OF THE COST OF REPLACEMENT; c) ANY ACCIDENTAL LOSS OR DAMAGE IF THE VEHICLE IS BEING DRIVEN BY A PERSON UNDER THE INFLUENCE OF INTOXICATING LIQUOR OR DRUGS.
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PROTECTION & REMOVAL COST AUTHORISATION FOR REPAIR
- Rs.1,500 (max)
- Rs. 500 (max)
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SUM INSURED INSUREDS DECLARED VALUE (IDV)
THIS VALUE IS FIXED AT THE COMMENCEMENT OF EACH POLICY PERIOD FOR THE INSURED VEHICLE
ON THE BASIS OF MANUFACTURERS LISTED SELLING PRICE OF THE 34 BRAND & MODEL (AGE OF VEHICLE)

SECTION II T.P.LIABILITY
COVER AS PER THIRD PARY LIABILITY POLICY
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SECTION III P.A. COVER TO OWNER DRIVER
COVERAGE SAME AS STUDIED IN T.P.LIABILITY COVER

SUM INSURED - Rs.2,00,000 (FIXED)
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PACKAGE POLICY PRIVATE CAR GENERAL EXCEPTIONS :1) ANY LOSS / LIABILITY INCURRED OUTSIDE THE GEOGRAPHICAL AREA 2) CONTRACTUAL LIABILITY
3) USE OF VEHICLE OTHER THAN AS PER LIMITATIONS AS TO USE
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4) DRIVEN OTHER THAN AS PER DRIVER CLAUSE 5) ANY CONSEQUENTIAL LOSS
6) LIABILITY ARISING FROM RADIATION, RADIOACTIVE CONTAMINATION
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7) USE OF NUCLEAR WEAPONS MATERIAL 8) WAR OR RELATED PERILS 9) COMPULSORY DEDUCTIBLE
UPTO 1500 cc. Rs.500 per event MORE THAN 1500cc 1000 per event
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PACKAGE POLICY PRIVATE CAR GENERAL CONDITIONS
1. WRITTEN NOTICE OF CLAIM 2. NO ADMISSION, OFFER OR PAYMENT WITHOUT WRITTEN APPROVAL
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3. INDEMNITY THE CO. MAY AT ITS OPTION REPAIR, REINSTATE OR REPLACE THE VEHICLE OR PARTS OR PAY IN CASH. THE LIABILITY NOT TO EXCEED : a) FOR TOTAL LOSS / CTL IDV LESS SALVAGE b) FOR PARTIAL LOSS COST OF REPAIRS LESS DEPRECIATION, LESS SALVAGE 41

4. VEHICLE TO BE MAINTAINED IN FIT CONDITION AT ALL TIMES. AFTER DAMAGE AGGRAVATION NOT COVERED. 5. CONDITION OF CANCELLATION 6. CONDITION OF CONTRIBUTION
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7. CONDITION OF ARBITRATION 8. OBSERVANCE OF POLICY TERMS -A PRECONDITION TO LIABILITY ADMISSION 9. TRANSFER OF POLICY WITHIN 3 MONTHS FROM THE DATE OF DEATH OF INSURED
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PACKAGE POLICY 2 WHEELERS

THE POLICY HAS FOLLOWING THREE SECTIONS : SECTION I SECTION II SECTION III OWN DAMAGE THIRD PARTY LIABILITY PERSONAL ACCIDENT COVER TO OWNER DRIVER
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SECTION I (OWN DAMAGE) COVERAGE SAME AS PER PRIVATE CAR PACKAGE POLICY - EXCEPT
1. THEFT OF ACCESSORIES NOT COVERED UNLESS THE VEHICLE IS STOLEN AT THE SAME TIME. 2. PROTECTION & REMOVAL (TOWING) MAXIMUM PAYBLE Rs.300
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3. AUTHORISATION FOR REPAIR MAXIMUM Rs.150 4. COMPULSORY DEDUCTIBLE - Rs.50 5. OTHER EXCLUSIONS SAME AS PER PRIVATE CAR POLICY
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SECTION II THIRD PARTY LIABILITY SAME AS PER PRIVATE CAR POLICY EXCEPT PROPERTY DAMAGE LIABILITY Rs.6000 AS PER M.V.ACT CAN BE INREASED TO Rs.1 LAKH
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SECTION III PERSONAL ACCDT. COVER TO OWNER DRIVER: SAME AS PER PRIVATE CAR POLICY LIMIT Rs.1 LAC
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GENERAL EXCLUSIONS & POLICY CONDITIONS SAME AS PER PRIVATE CAR POLICY
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PACKAGE POLICY COMMERCIAL VEHICLE

THE POLICY HAS FOLLOWING FOUR SECTIONS : SECTION I OWN DAMAGE SECTION II THIRD PARTY LIABILITY SECTION III TOWING DISABLED VEHICLES SECTION IV PERSONAL ACCIDENT COVER TO OWNER DRIVER
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PACKAGE POLICY FOR COMMERCIAL VEHICLES

SECTION I (OWN DAMAGE) SCOPE / TERMS OF COVER SAME AS PER PRIVATE CAR PACKAGE POLICY EXCEPT THE FOLLOWING :-
1. NO LIABILITY FOR DAMAGE CAUSED BY OVERLOADING OR STRAIN OF THE 51 VEHICLE

2. NO LIABILITY FOR LOSS OF ACCESSORIES BY THEFT UNLESS THE VEHICLE IS STOLEN AT THE SAME TIME
3. PROTECTION AND REMOVAL CHARGES 3 WHEELERS Rs. 750 TAXIES Rs.1500 OTHERS Rs.2500 4. AUTHORISATION FOR REPAIRS Rs.500 52

SECTION II THIRD PARTY LIABILITY COVERAGE AS PER THIRD PARTY LIABILITY ONLY POLICY. EXCLUSIONS :
THE POLICY WILL NOT BE LIABLE FOR:a) INJURY/DEATH/DAMAGE CAUSED BEYOND THE LIMITS OF ANY CARRIAGE 53 WAY OR THOROUGH FARE.
PACKAGE POLICY COMMERCIAL VEHICLES

b) DEATH / INJURY TO ANY PERSON IN THE COURSE OF HIS EMPLOYMENT EXCEPT AS PER W.C.ACT. c) L.L. TOWARDS PERSON CARRIED IN THE VEHICLE. CONSIGNOR OF GOODS IS COVERED. d) DAMAGE TO PROERTY BELONGING TO OR HELD IN TRUST OF THE INSURED OR BEING CARRIED IN THE VEHICLE.
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PACKAGE POLICY COMMERCIAL VEHICLES

e) DAMAGE TO ANY BRIDGE AND/OR VIADUCT &/OR TO ANY ROAD &/OR ANYTHING BENEATH BY VIBRATION / WEIGHT CARRIED BY THE VEHICLE. f) DEATH / INJURY TO ANY PERSON WHO IS NOT AN EMPLOYEE OF THE INSURED AND NOT BEING CARRIED FOR HIRE OR REWARD.
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SECTION III, TOWING DISABLED VEHICLES ALLOWED PROVIDED a) TOWING IS NOT FOR REWARD b) NO LIABILITY FOR DAMAGE TO TOWED VEHICLE OR PROPERTY CARRIED IN IT
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SECTION IV PERSONAL ACCIDENT COVER TO OWNER DRIVER SAME AS PER LIABILITY ONLY POLICY GENERL EXCEPTIONS SAME AS IN PVT CAR PACKAGE POLICY
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GENERAL CONDITIONS SAME AS PER PRIVATE CAR PACKAGE POLICY WITH FOLLOWING ADDITIONAL CONDITION : IN CASE OF PROPERTY DAMAGE, THE INS.CO. MAY PAY TO THE INSURED THE FULL AMOUNT OF THEIR LIABILITY AND RELINQUISH THE DEFENCE TO THE INSURED WHO WILL BEAR THE COST AND EXPENSES OF DEFENCE. 58
OTHER TYPES OF POLICIES

THIRD PARTY + FIRE &/OR THEFT.
SECTION I ANY LOSS OR DAMAGE TO THE VEHICLE DUE TO FIRE &/OR THEFT ALL OTHER SECTIONS, EXCLUSIONS, TERMS AND CONDITIONS ARE SAME
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SPECIAL POLICIES
TRADE POLICIES ISSUED TO MOTOR DEALERS OR DISTRIBUTORS OR ENGAGED IN THEIR OVERHAUL OR REPAIR. TRADE CERTIFICATES ARE ISSUED BY TRANSPORT AUTHORITY
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TRADE POLICIES
TWO TYPES OF POLICIES 1) Motor trade package policy (Road Risk) Risk coverage in Public Place 2) Motor Trade Internal Risk covers loss only within the Insureds business premises
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GENERAL REGULATIONS
GR -1 INSURANCE NOT PROVIDED FOR: Motor ins. in India to be conducted in accordance with this tariff. GR -2 PROPOSAL FORM: Specified Proposal Form is to be submitted. GR -3 POLICY FORMS: Policies to be issued only on Standard forms
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GENERAL REGULATIONS
GR -3 A) TWO TYPES OF POLICIES: 1) LIABILITY ONLY POLICY 2) PACKAGE POLICY. B) RATING : RATES ARE PROVIDED IN TARIFF. 100% LOADING FOR ADVERSE CLAIMS EXPERIENCE.
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GENERAL REGULATIONS
GR -4 EXTENSION OF GEO. AREA : Geographical Area is India, can be extended to Bangladesh, Bhutan, Nepal, Pakistan, Sri Lanka, Maldives on payment of extra premium. GR -5 VINTAGE CARS : Cars manf. Prior to 31-12-1940 and certified by Vintage & Classic Car Club of India 64
GENERAL REGUATIONS
GR -6 CLASSIC CARS: Cars manf. Between 31-12-1940 & 31-12-1970 are considered by Club.
GR -7 VALUED POLICIES: Not permitted to issue Agreed Valued Policies except in case of Vintage Cars.
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GENERAL REGULATIONS
GR -8 INSUREDS DECLARED VALUE: IDV is deemed to be the SUM INSURED and valid through out the policy period. GR -9 DEPRECIATION ON PARTS FOR PARTIAL LOSS CLAIMS. Scale of depreciation as per tariff.
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GENERAL REGULATIONS
GR-10 GEOGRAPHICAL ZONES : For rating purpose, India has been divided into following zones according to Registration office :i) Private cars,2 wheelers & up to 6 passengers carrying vehicles for hire or reward (commercial) ZONE-A : Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi and Pune 67
GENERAL REGULATIONS
ZONE B : Rest of India
FOR OTHER VEHICLES :

ZONE A : Chennai, Delhi/New Delhi Kolkata, Mumbai ZONE B : All other State Capitals. ZONE C : Rest of India
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GENERAL REGULATIONS
GR-11 PERIOD OF INSURANCE:
Maximum Period 12 months, further extension for less than 12 months on pro-rata allowed subject to renewal with same insurer.
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GENERAL REGULATIONS
GR-12 RATES FOR SHORT PERIOD COVER:
For shorter period policies, scale is provided in the tariff.

No liability only policy to be issued for short period
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GENERAL REGULATIONS
GR-13 DISPLAY OF PREMIUM: Own Damage and Liability premiums to be shown separately in the policy. Similarly all loadings and discounts are to be shown separately.
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GENERAL REGULATIONS
GR -14 COMPUTATION OF PREMIUM: Premium payable to be computed according to the tables given in the tariff. GR -15 PAYMENT OF PREMIUM : Full premium to be received before commencement of cover. No installments.
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GENERAL REGULATIONS
GR-16 MINIMUM PREMIUM : Minimum premium is Rs.100. Specially designed vehicles for handicapped persons is Rs.25. GR-17 TRANSFER OF VEHICLE: Liability cover is deemed to be automatically transferred to the new owner from the date of transfer
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GENERAL REGULATIONS
GR-17 contd.
OWN DAMAGE section shall be transferred ONLY on specific request subject to the following :Application within 14 days Consent of transferor Fresh proposal form Evidence of sale
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GENERAL REGULATIONS
Surrender of old Cert. of Insurance Inspection of the vehicle Transfer Fee of Rs.50 Recovery of No Claim Bonus.
GR-18 CHANGE OF VEHICLE :

Substitution by same class of vehicle allowed on payment of difference of prem. However, proof of Liability Ins. Of earlier vehicle is required except T/L
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GENERAL REGULATIONS
GR-19,20 & 21 VEHICLE SUBJECT TO HIRE PURCHASE, LEASE OR HYPOTHECATION: Vehicle to be insured in the name of registered owner and not in joint names. GR-22 COVER NOTE: To be issued in Form No.52. Valid for 60 days, to be followed by policy.
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GENERAL REGULATIONS
GR-23 CERTIFICATE OF INSURANCE: To be issued in Form No.51.
GR-24 CANCELLATION & DOUBLE INSURANCE : A) Cancellation of policy :-
7 days notice from both sides; Provided no claim under the policy If by Ins. co., pro-rate adjustment
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GENERAL REGULATIONS
GR-24 contd. If by Insured, premium retention on short period basis. Original Cert. of Ins. To be surrendered Insured to give proof of Liability cover extension. Insurer to inform RTA by recorded delivery about cancellation of policy.
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GENERAL REGULATIONS
GR-24 contd. B) DOUBLE INSURANCE : Later policy to be cancelled on pro-rata refund of prem. Retention of Min. prem. Provided no claim under any policy. If both the policies with same insurer, 100% refund. If earlier policy to be cancelled, premium to be retained on short period basis.
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GENERAL REGULATIONS
GR-25 CANCELLATION & ISSUANCE OF FRESH CERT. OF INS.: Following any change in the policy, if a new cert. is to be issued, charges Rs.50. GR-26 CERT./COVER NOTE DESTROYED OR MUTILATED: For issue of Duplicate, Rs.50 charges
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GENERAL REGULATIONS
GR-27 NO CLAIM BONUS:
a) Allowed only after completion of 12 months continuous insurance; a) Only on own damage premium; b) Ranges from 20% to 50%(Max.)
c) Similar %age for all classes of vehicles. 81
GENERAL REGULATIONS
GR-27 contd. e) No NCB on Motor Trade policies f) In case of claim, NCB will reduce to zero g) Entitlement is protected up to 90 days of date of expiry; h) If the vehicle is sold and not replaced, entitlement preserved up to 3 years;
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i) On transfer of vehicle, NCB recovered or adjusted;
j) Co. owned vehicles if transferred to employ., using it exclusively, NCB can be transferred in his name;
k)In case of change of Insurer, proof of entitlement from previous insurer to be furnished.
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GENERAL REGULATIONS
GR-27 contd. l) SUNSET CLAUSE : If insured is entitled to 55% or 65% at renewal between 1-7-2002 and 30-62003, the same %age will be protected until a claim arises in which case NCB will revert to NIL.
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GENERAL REGULATIONS
GR-28 AUTOMOBILE ASSOCIATION MEMBERSHIP DISCOUNT : 5% of OD premium (Max.200/- for Pvt. Car and 50/- for 2 wheelers) Valid for period of membership (on pro-rata basis)
GR-29 DISCOUNT FOR VINTAGE CARS 25% ON OD prem.

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GENERAL REGULATIONS
GR-30 DISC. FOR ANTI THEFT DEVICE: 2.5% ON OD prem.-Max.500/Provided device is approved by ARAI, Pune and installation is certified by any AAI. GR-31 CONCESSION FOR LAID-UP VEHICLES: Min. 2 consecutive months. Prorata adjustment of premium.
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GENERAL REGULATIONS
GR-32 MID TERM INCLUSION / CANCELLATION OF EXTRA BENEFITS: Permitted once in policy period.
GR-36 COMPULSORY PA COVER: To Owner-Driver (Individual only) 2 wheeler - Rs.1 lakhs - Rs. 50 Others - Rs.2 lakhs - Rs.100 87
GENERAL REGULATIONS
GR-36 contd. No such cover to companies or owner not holding effective driving license. Owner having number of vehicles, cover only at one vehicle at his option. 88
GENERAL REGULATIONS
GR-36 contd. OPTIONAL PA COVER TO PERSONS OTHER THAN OWNER-DRIVER : According to registered seating capacity of the vehicle at rates provided in the tariff.
GR-37 VEHICLES IMPORTED WITHOUT CUSTOM DUTY : OD premium to be loaded by 30%
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GENERAL REGULATIONS
GR-38 VEHICLES REQUISITIONED BY GOVERNMENT: Held covered. Losses paid in excess of amount paid by Govt. GR-39 TPPD COVER: Limit of cover for all vehicles other than 2 wheelers & Motor Trade (internal risk) Rs. 7.5 lakhs 90
GENERAL REGULATIONS
GR-39 contd. For 2 wheelers Rs.1 lakh. For statuary limits, discount in TP premium allowed as per tariff. Mid term change in limits not allowed.
GR-40 COMPULSORY DEDUCTIBLES: Amount to be compulsory deducted out of OD claims according to the type of vehicle as per tariff. 91
GENERAL REGULATIONS
GR-41 ELECTRICL /ELECTRONIC FITTINGS : Items not included in the Manf.s price can be covered under OD section @ 4% of the value on specific declaration. GR-42 USE OF CNG / LPG FUEL: Shall be covered on addl. Prem @ 4% on the value of kit on specific 92 decl.
MOTOR VEHICLE ACT,1988 IMPORTANT PROVISIONS CHAPTER X NO FAULT LIABILITY SECTION 140 :
FOR DEATH OR PERMANENT DISABLEMENT OF THIRD PARTY, THE OWNER OF VEHICLE IS LIABLE TO PAY COMPENSATION.
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TO CLAIM UNDER THIS SEC., THE CLAIMENT IS NOT REQUIRED TO PROOVE WRONGFUL ACT, NEGLECT OR DEFAULT OF VEHICLE OWNER.
COMPENSATION FOR DEATH Rs.50,000 FOR PERMANENT DISABLEMENT Rs.25,000
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MOTOR VEHICLE ACT,1988

SECTION 147 : LIMIT OF LIABILITY THE INSURANCE POLICY SHALL COVER THE FOLLOWING LIMITS :DEATH / INJURY (SEC.II-I (ii) ) UNLIMITED PROPERTY DAMAGE MIN. Rs.6,000 SECTION 149 : DUTY OF INSURERS TO SATISFY JUDGEMENTS & AWARDS AGAINST PERSONS INSURED IN RESPECT OF THIRD 95 PARTY RISKS.

SECTION 151 : INSURED IS BOUND TO DISCLOSE INSURANCE PARTICULARS TO THE THIRD PARTY AND INSURER IS BOUND TO GIVE THE POLICY DOCUMENTS TO INSURED PARTY. SECTION 152 : NO SETTLEMENT BETWEEN INSURER AND INSURED IS EFFECTIVE UNLESS THIRD PARTY IS ALSO MADE A PARTY TO THE 96 SETTLEMENT.

SECTION 155 : IN CASE OF DEATH OF INSURED, THE T.P. CLAIM IS EFFECTIVE AGAINST INSUREDS ESTATE OR LEGAL HEIRS OF INSURERS. SECTION 157 : IN CASE OF TRANSFER OF VEHICLE, T.P. INS. IS AUTOMATICALLY DEEMED TO HAVE BEEN TRANSFER IN THE NAME OF NEW OWNER.
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SECTION -161:
SPECIAL PROVISIONS AS TO COMPENSATION IN CASE OF HIT & RUN MOTOR ACCIDENTS :

COMPENSATION FOR DEATH Rs.25,000 (FIXED) GREVIOUS HURT Rs.12,500 (FIXED) 98
MOTOR VEHICLE ACT - 1988

SECTION -163 A :
SCHEME OF COMPENSATION FOR HIT & RUN CASES IS BEING ADMINISTERED BY GIC AND ALL GENERAL INSURANCE COS. CONTRIBUTE TO THIS SCHEME. SECTION 163 B : COMPENSATION CAN BE CLAIMED EITHER UNDER SEC.140 (NO FAULT LIAB.) OR UNDER 99 SEC.163A (HIT & RUN)

SECTION 165 : CLAIMS TRIBUNALS T.P. CLAIMS CAN BE ADJUDICATED UPON ONLY BY MOTOR ACCIDENT CLAIMS TRIBUNALS (MACT) CONSTITUTED BY STATE GOVTS. SECTION -173 : APPEALS ANY PERSON AGGRIEVED BY AN AWARD OF MACT MAY, WITHIN 90 DAYS FROM THE DATE OF AWARD, PREFER AN APPEAL TO THE HIGH COURT. 100

CHAPTER XI
INSURANCE OF VEHICLES AGAINST T.P. RISK
SECTION 146 :
NO VEHICLE CAN BE USED IN A PUBLIC PLACE WITHOUT HAVING INSURED AGAINST T.P. RISK.
VEHICLES OWNED BY CENTRAL &/OR STATE GOVTS. ARE EXEMPTED. THE GOVT. MY FURTHER EXEMPT VEHICLES OWNED BY LOCAL AUTHORITIES PROVIDED A FUND IS EXTABLISHED BY THAT AUTH. TO MEET T.P. RISK. 101
RATING PRIVATE CAR TYPE VEHICLES
1.
SECTION I
OWN DAMAGE
(GR-8) (GR-10) (GR-8)
RATING FACTORS:i. IDV ii. CUBIC CAPACITY iii. GEOGRAPHICAL ZONES iv. AGE OF THE VEHICLE
2.
MINIMUM VALUES FOR THE PURPOSE OF COMPUTATION OF PREMIUM :i. NOT EXCEEDING 1000 cc Rs.15,000 ii. 1000cc TO 1500cc 20,000 iii. EXCEEDING 1500cc 30,000
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3. PREMIUM CHART
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RATING PRIVATE CAR TYPE VEHICLE

4. ADDITIONAL PREMIUM FOR CNG / LPG FUEL (GR-42) 5. ADDITIONAL PREMIUM FOR ELECT. / ELECTRONIC ITEMS (GR-41) 6. DISCOUNTS :i. AUTOMOBILE ASSOCIATION (GR-28) ii. ANTI THEFT DEVICES (GR-30) iii. VINTAGE CAR (GR-29) iv. VOLUNTARY DEDUCTIBLE (GR-40) v. NO CLAIM BONUS (GR-27)
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RATING PRIVATE CAR TYPE VEHICLE

SECTION II
THIRD PARTY LIABILITY PREMIUM UPTO 1000cc Rs.500 1000cc TO 1500cc Rs.600 EXCEEDING 1500cc Rs.700 ADDITIONAL PREMIUM :i. USE OF CNG / LPG Rs. 60 ii. PA TO OWNER-DRIVER Rs.100 iii. PA TO UN-NAMED PASS. Rs. 50 (PER HEAD ACCORDING TO SEATING CAPACITY)
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iv. L.L. TO PAID DRIVER / CLEANER ( PER HEAD) LIMITATIONS AS TO USE :-
Rs. 25
USE ONLY FOR SOCIAL, DOMESTIC AND PLEASURE PURPOSES AND FOR THE INSUREDS BUSINESS OR PROFESSION. POLICY DOES NOT COVER :-
USE FOR HIRE OR REWARD, ORGANISED RACING, PACE MAKING, SPEED TESTING, RELIABILITY TRIALS, MOTOR TRADE, CARRIAGE OF GOODS (OTHER THAN SAMPLES OR 106 PERSONAL BAGGAGE)

WHO CAN DRIVE( DRIVER CLAUSE)
ANY PERSON INCLUDING THE INSURED;

PROVIDED THAT A PERSON DRIVING HOLDS AN EFFECTIVE DRIVING LICENCE AT THE TIME OF ACCIDENT AND IS NOT DISQUALIFIED FROM HOLDING OR OBTAINING SUCH A LICENCE.
A PERSON HOLDING AN EFFECTIVE LERNER;S LICENCE MAY ALSO DRIVE THE VEHICLE PROVIDED HE SATISFIES THE REQUIREMENTS OF RULE 3 OF THE CENTRAL MOTOR VEHICLE 107 RULES, 1989.
RATING MOTORISED TWO WHEELERS

SECTION I OWN DAMAGE
1. RATING FACTORS :- SAME AS PRIVATE CARS 2. MINIMUM VALUES FOR THE PURPOSE OF COMPUTATION OF PREMIUM:NOT EXCEEDING 150cc EXCEEDING 150cc TO 350cc EXCEEDING 350cc Rs.5,000 6,000 7,000
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3. PREMIUM RATES AS PER CHART
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4. ADDITIONAL PREMIUM FOR CNG / LPG FUEL AS PER GR-42. 5. ADDL. PREMIUM FOR ELEC./ ELECTRONIC ITEMS AS PER GR-41. 6. LOSS OF ACCESSORIES BY THEFT @ 3% OF THE VALUE OF ACCESSORIES SUBJECT TO MIN. Rs.50.
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7. I. DISCOUNTS :25% DISCOUNT ON OD PREMIUM AFTER LOADING FOR ITEMS 4 & 5 ABOVE IF VEHICLE USED WITH SIDE CAR.
II. ALL OTHER DISCOUNTS SAME AS IN PRIVATE CARS.

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SECTION II PREMIUM : T.P.LIABILITY COVER
NOT EXCEEDING 75cc > 75cc TO 150cc > 150cc TO 350cc > 350cc
Rs.135 160 175 190

112
THE OWNER-DRIVER IS THE REGISTERED OWNER OF THE INSURED VEHICLE;

THE OWNER-DRIVER IS THE INSURED NAMED IN THE POLICY; THE OWNER-DRIVER HOLDS AN EFFECTIVE DRIVING LICENSE AT THE TIME OF ACCIDENT.
113
RATING COMMERCIAL VEHICLES

FOR RATING PURPOSE, CVs ARE CLASSIFIED INTO FOLLOWING CATAGORIES:-
CLASS CATEGORY GOODS CARRYING A1 & A2 TRAILERS B PASSENGER CARRYING C MISC. & SPECIAL TYPE D MOTOR TRADE E,F,G
114

RATING FACTORS :
IDV ZONE AGE OF VEHICLE GROSS VEHICLE WEIGHT (GVW) / LICENSED CARRYING CAPACITY
115
RATING IS AS PER TARIFF
116
DOCUMENTS PROPOSAL FORM

1. 2. 3. 4. 5. 6. 7. 8. PARTICULARS ABOUT THE PROPOSER; DETAILS OF VEHICLE TO BE INSURED; DETAILS OF OTHER VEHICLES OWNED; DETAILS OF INSURANCE HISTORY; PREVIOUS CLAIMS; EXTRA BENEFITS; DECLARATION. SIGNATURES
117
DOCUMENTS
CERTIFICATE OF INSURANCE
AN EVIDENCE THAT A MOTOR VEHICLE IS INSURED AGAINST T.P.LIABILITY AS REQUIRED UNDER M.V.ACT,1988.
CONTENTS:a) CERTIFICATE NUMBER; b) DESCRIPTION OF THE VEHICLE c) COMMENCEMENT & EXPIRY DATES OF INS
118
DOCUMENTS
CLASSES OF PERSONS ENTITLED TO DRIVE; LIMITATIONS AS TO USE; FOLLOWED BY A CERTIFICATE FROM AN AUTHORISED REPRESENTATIVE OF INS. CO. THAT THIS DOC. HAS BEEN ISSUED IN ACCORDANCE WITH M.V.ACT-1988 SIGNATURE. IN CASE OF LOST OR DESTROYED CERT., DUPLICATE TO BE ISSUED ON CHARGES OF RS.50
119
DOCUMENTS
COVER NOTE
120
MOTOR UNDERWRITING THE NEED:

INCREASE IN THE NUMBER OF VEHICLES, TRAFFIC DENSITY, HIGHER CLAIMS COST FOR OWN DAMAGE AND THIRD PARTY CLAIMS: NECESSITY TO CONTROL THE CLAIMS COST HENCE A SOUND UNDERWRITING POLICY IS THE NEED OF THE HOUR.
121
MOTOR UNDERWRITING
SOUND UNDERWRITING MEANS:-
a) CAREFUL SELECTION OF RISK a) IMPOSING CERTAIN TERMS AND CONDITIONS b) AND CONTINOUS MONITORING OF RISK.
122
MOTOR UNDERWRITING
(A)
STEPS FOR SOUND UNDERWRITING :

SCREENING OF COMPLETE PROPOSAL FORM FOR CONSIDERATION OF:TYPE OF VEHICLE USE OF THE VEHICLE GEOGRAPHICAL AREA OF OPERATIONS THE DRIVER NO CLAIM DISCOUNT PAST CLAIMS EXPERIENCE MORAL HAZARD
1) 2) 3) 4) 5) 6) 7)
123
MOTOR UNDERWRITING
(B) TO MAINTAIN STATISTICAL RECORDS. (C) SOME IMPORTANT GUIDELINES :1) FOR OLD VEHICLES, ONLY RESTRICTED OR TPL COVER OR INSPECTION BE CARRIED OUT BEFORE INSURANCE; 2) INSPECTION NECESSARY IN CASE OF BREAK IN INSURANCE OR CHANGE FROM TPL COVER TO PACKAGE POLICY;
124
MOTOR UNDERWRITING
3) PROPER FIXING OF IDV; 4) SPORTS CARS AT GREATER RISK (high speed). 5) PVT. CARS A BETTER RISKS THAN TAXIS 6) OWNER DRIVEN TAXIS BETTER THAN HIRER DRIVEN; 7) LIMITED AREA OF OPERATION OR WIDER AREA 8) AGE OF THE DRIVER (YOUNG MORE PRONE TO RASH DRIVING;
125
MOTOR UNDERWRITING
9) ANY SERIOUS VISION DEFECT; 10) DRIVING HABBITS / OFFENCES; 11) NCB IS INDICATIVE OF CAREFUL DRIVING; 12) NUMBER & TYPES OF CLAIMS 13) ATTITUDE ESPECIALY AFTER A LOSS; 14) LOSS EXPERIENCE OF A PARTICULAR AGENT / MAKE MODEL / CLAIM RATIO etc.
126
MOTOR
CLAIMS
OWN DAMAGE
127
CLAIMS
OWN DAMAGE
1. INSURED TO GIVE WRITTEN INTIMATION OF LOSS TO INS. CO. 2. TO REMOVE THE VEHICLE TO WORKSHOP & GET THE REPAIR ESTIMATE PREPARED. 3. INS.CO. TO CHECK THE POLICY COVERAGE & ITS VALIDITY 4. REGISTRATION OF CLAIM BY CO. 5. APPOINTMENT OF MOTOR SURVEYOR
128
CLAIMS
OWN DAMAGE
129
CLAIMS
OWN DAMAGE
130
CLAIMS
OWN DAMAGE
131
CLAIMS
OWN DAMAGE
132
CLAIMS
OWN DAMAGE
133
CLAIMS
OWN DAMAGE
134
CLAIMS
OWN DAMAGE
135
CLAIMS
OWN DAMAGE
136
CLAIMS
OWN DAMAGE
137
CLAIMS
OWN DAMAGE
1. INSURD TO GIVE WRITTEN INTIMATION OF LOSS TO INS. CO. 2. TO REMOVE THE VEHICLE TO WORKSHOP & GET THE REPAIR ESTIMATE PREPARED. 3. INS.CO. TO CHECK THE POLICY COVERAGE & ITS VALIDITY 4. REGISTRATION OF CLAIM BY CO. 5. APPOINTMENT OF MOTOR SURVEYOR
138
CLAIMS OWN DAMAGE

6. SURVEYOR TO INSPECT THE VEHICLE IN WORKSHOP & DISCUSS WITH THE REPAIRER / INSURED REG. COST OF REPAIRS NECESSARY ACCORDING TO THE CAUSE OF ACCIDENT. 7. SURVEYOR ALSO COLLECT DULY COMPLETED CLAIM FORM & VERIFIES ORIGINAL R.C., D/L & POLICY 8. FOR MINOR CLAIMS CO. ENGINEER CAN ASSESS THE LOSS
139
CLAIMS OWN DAMAGE

9. SURVEYOR / ENGINEER SUBMITS HIS ASSESSMENT REPORT TO THE INS.CO. 10. ON THE OTHER SIDE THE VEHICLE IS REPAIRED & DELIVERED TO THE INSURED ON PAYMENT. 11. ORIGINAL REPAIR BILLS & PAYMENT RECEIPT IS SUBMITTED TO THE INS.CO. 12. AFTER STUDY CLAIM IS APPROAVED & A DISCHARGE VOUCHER IS RELEASED.
140
CLAIMS OWN DAMAGE

13. CLAIM AMOUNT SANCTIONED IS AFTER DEDUCTING DEPERICIATION ON PARTS REPLACED & THE AMOUNT OF EXCESS. 14. COLLECTION OF SALVAGE IF VALUE NOT DEDUCTED. 15. ON RECEIPT OF DISCHARGED VOUCHER PAYMENT IS RELEASED TO INSURED BY CHEQUE. 16. NOWADAYS, MANY COS. ARE PROVIDING CASH LESS FACILITY TO THEIR CLIENTS.
141
CLAIMS OWN DAMAGE

17. UNDER THIS SYSTEM, THE REPAIRER WILL RELEASE THE VEHICLE AFTER TAKING THE AMOUNT OF DEPRECIATION AND EXCESS ALONG WITH A SATISFACTION VOUCHER FROM THE CLIENT. 18. BALANCE PAYMENT ( LIABILITY OF THE CO.) SHALL BE PAID DIRECTLY BY THE INS. CO. TO THE REPAIRER.
142
CLAIMS OWN DAMAGE

CLAIM DOCUMENTS : COMMON FOR ALL VEHICLES
1. 2. 3. 4. 5. 6. DULY COMPLETED CLAIM FORM ORIGINAL R.C. for verification ORIGINAL D.L. for verification COPY OF POLICE REPORT (if lodged) SURVEY REPORT ORIGINAL REPAIR BILL & PAYMENT RECEIPT.
143
CLAIMS OWN DAMAGE

ADDITIONAL DOCUMENTS FOR COMMERCIAL VEHICLES: ORIGINAL FITNESS CERT. for verification ORIGINAL ROUTE PERMIT for verification LOAD CHALLAN for goods carrying vehicle SPOT SURVEY REPORT.
1. 2. 3. 4.
144
CLAIMS OWN DAMAGE

TOTAL LOSS CLAIM SETTLEMENT: 1. ON TOTAL LOSS BASIS : IF THE REPAIR COST IS 75% OR MORE OF IDV. FULL IDV OF THE VEHICLE IS PAID AND SALVAGE IS TAKEN OVER BY THE CO. FOR DISPOSING IT OFF. ORIGINAL POLICY, R.C., KEYS, TRANSFER FORMS & OTHER DOCUMENTS OF THE VEHICLE ARE COLLECTED
145
CLAIMS OWN DAMAGE 2. CASH LOSS SETTLEMENT :

IN CASE OF MAJOR LOSSES WHERE THE REPAIR COST IS VERY HIGH, A NET AMT. IS OFFERED ON COMPROMISE BASIS WITHOUT INSISTING FOR REPAIRS & COLLECTION OF SALVAGE. THE INSURED CAN GET THE VEHICLE REPAIRED BY USING 2ND HAND PARTS OR PARTS PURCHSED FROM GREY MARKET.
146
CLAIMS OWN DAMAGE 3. THEFT CLAIMS :

TOTAL IDV IS PAYABLE SUBJECT TO COLLECTION OF :1. ORIGINAL POLICY 2. FIR 3. FINAL (UNTRACE) REPORT OF POLICE 4. ORIGINAL R.C. DULY TRANSFERRED IN THE NAME OF THE CO. 5. FULL SET OF KEYS 6. COPY OF REGISTERED LETTER TO RTO INFORMING THEFT OF THE VEHICLE
147
CLAIMS OWN DAMAGE

CONTENTS OF MOTOR SURVEY REPORT:
1. 2. 3. 4. 5. 6. 7.
DETAILS OF INSURED & VEHICLE DETAILS OF POLICY OCCURRENCE DETAILS / CAUSE PHOTOGRAPHS CHECK LIST OF ALL ORIGINAL DOCTS. ANY SPECIAL FEATURES OBSERVED COMMENTS ON INSURERS LIABILITY
148
CLAIMS OWN DAMAGE

8. ASSESSMENT DETAILS
LABOUR COST REPLACEMENT COST OF PARTS DEPRECIATION DEDUCTIBLE SALVAGE NET LOSS AMOUNT
149
CLAIMS THIRD PARTY

USE OF A MOTORISED VEHICLE IN A PUBLIC PLACE CAN GIVE RISE TO ACCIDENT WHICH MAY RESULT INTO DEATH OR BODILY INJURY &/OR PROPERTY DAMAGE OF THIRD PARTY, DUE TO ACCIDENT, TWO TYPES OF LIABILITIES ARISES. ONE IS CRIMINAL LIABILITY & THE OTHER IS CIVIL LIABILITY. FOR CRIMINAL LIABILITY, IT IS THE STATE THAT INITIATES PROCEEDINGS
150
CLAIMS THIRD PARTY

FOR CIVIL LIABILITY, IT IS THE VICTIM OR HIS REPRESENTATIVES HAS TO FILE A CLAIM FOR COMPENSATION. THIS CLAIM CAN BE FILED IN ANY M.A.C.T./ W.C. COURT WITH JURISDICTION ON THE PLACE OF ACCIDENT PLACE OF RESIDENCE OR BUSINESS OF THE CLAIMANT OR THE RESIDENCE OF DEFENDANT. NO TIME LIMIT TO FILE THE CLAIM.
151
a) b) c) d)
CLAIMS THIRD PARTY

MOTOR ACCIDENT CLAIMS TRIBUNALS (MACT) HAVE BEEN SPECIALLY SET UP FOR THIRD PARTY CLAIMS FOR SPEEDY AND COST EFFECTIVE TRAILS. NO OTHER CIVIL COURT IS EMPOWERED TO DEAL WITH THESE CLAIMS. MACT HAS THE SAME POWERS AS THOSE OF CIVIL COURTS.
152
CLAIMS THIRD PARTY

CLAIM PROCEEDURE ADOPTED BY INSURERS : INTIMATION OF CLAIM IS EITHER RECEIVED FROM THE INSURED OR THROUGH NOTICE FROM THE MACT. AFTER SATISFYING WITH THE COVERAGE, A CLAIM IS REGISTERED IN THE BOOKS WITH A PROPER PROVISION OF ESTIMATED LIABILITY. AN ADVOCATE ON COS PANEL IS APPOINTED BEFORE THE NEXT DATE.
153
CLAIMS THIRD PARTY

1. 2. 3. 4. 5. 6. 7. 8. DOCUMENTS / INFORMATION COLLECTED: POLICY COPY CLAIM FORM DRIVERS LICENSE FIR DRIVER/ WITNESSES STATEMENT POST MORTEM REPORT (FATAL CLAIMS) MEDICAL REPORT (INJURY CLAIMS) DRIVER & OWNER TO CO-OPERATE
154
CLAIMS THIRD PARTY

BASIS OF COMPENSATION FOR FATAL CLAIMS :
VICTIMS AGE / PHYSICAL CONDITION OCCUPATION MONTHLY INCOME (FOR NON-EARNING PERSON, SPECIFIED NOTIONAL INCOME) CONTRIBUTION TO THE FAMILY RELATIONSHIP WITH THE CLAIMANT MEDICAL & FUNERAL EXPENSES etc.
155
CLAIMS THIRD PARTY
COMPENSATION FOR INJURY CLAIMS

MEDICAL, SURGICAL AND HOSPITALISATION EXPENSES LOSS OF SALARY AND INCOME TO BE SUPPORTED BY BILLS & VOUCHERS
156
CLAIMS THIRD PARTY

GENERAL DAMAGES:
PAIN & SUFFERINGS, MENTAL & NERVOUS SHOCK, LOSS OF AMENITIES OF LIFE, LOSS OF ENJOYMENT OF LIFE CONTINUED IMPAIRMENT OF HEALTH, LOSS OF PROSPECTIVE EARNINGS, LOSS OF MATRIMONIAL PROSPECTS etc. INTEREST ON AMOUNT OF AWARD.
157
CLAIMS THIRD PARTY

LOK ADALAT SETTLEMENTS :
SETTLEMENT OF DISPUTES THROUGH CONCILIATION AND COMPROMISE. CASES WHICH ARE PENDING IN MACT COURTS CONDITION BOTH PARTIES SHOULD AGREE FOR SETTLEMENT DECISION IS BINDING ON BOTH THE PARTIES NO APPEAL PRESIDED BY A SITTING OR RETIRED JUDGE WITH TWO OTHER MEMBERS
158
CLAIMS THIRD PARTY

JALD RAHAT YOJNA (JRY):
MENT FOR NON-FATAL INJURY CLAIMS. APPLICABLE TO VICTIMS OF 18 YEARS AND ABOVE. NO NEED TO GO TO MACT. DIRECTLY APPROACHES THE INS.CO. AMOUNT OF COMPENSATION TO BE SUPPORTED BY MEDICAL CERT. & EXPENSES BILLS IF OFFER NOT ACCEPTABLE, CAN GO TO MACT FOR TRADITIONAL PROCESS.
159
CLAIMS THIRD PARTY

NO FAULT LIABILITY
FALLS UNDER SEC.140-144 NO NEED TO PROVE ANY NEGLIGENCE OR DEFAULT OF OWNER OR DRIVER. ONLY INCIDENT PROOF SUFFICIENT FIXED COMPENSATION FOR DEATH50,000/PERMANENT DISABLEMENT 25,000/ IT IS A INTERIM RELIEF
160
CLAIMS THIRD PARTY

CLAIM CAN FURTHER BE FILED IN MACT ON THE BASIS OF FAULT LIABILITY UNDER SEC.166. HOWEVER, THE INTERIM RELIEF WOULD BE DEDUCTED FROM THE FINAL AWARD. NO RECOVERY IN CASE OF LOWER AWARD.
161
CLAIMS THIRD PARTY

HIT & RUN CASES
CASES WHERE THE IDENTITY OF THE MOTOR VEHICLE CANNOT BE ASCERTAINED. UNDER SEC. 161 FIXED COMPENSATION FOR DEATH25,000/PERMANENT DISABLEMENT 12,500/ PAYMENT FROM SOLATIUM FUND. CREATED BY EQUAL SHARING FROM CENTRAL/STATE GOVTS. AND INSURERS.
162
CLAIMS THIRD PARTY

INDIA MOTOR INSURANCE POOL (THIRD PARTY POOL)
NEED TO CREAT THIS POOL TO ABSORB VERY HIGH CLAIMS RATIO IN THIRD PARTY LIABILITIES. UNDER THIS SYSTEM ALL T.P. PREMIUM OF COMMERCIAL VEHICLES WILL BE COLLECTED IN THIS POOL AND CLAIMS WILL BE PAID THEREFROM. THIS POOL IS CONTROLLED BY G.I.C.
163
CLAIMS THIRD PARTY

ALL THE GENERAL INSURANCE COMPANIES WHAT EVER TP PREMIUM OF COMMERCIAL VEHICLES THEY COLLECT IS SENT TO THE POOL. THE CLAIMS ON THIRD PARTY MOTOR LIABILITIES ARE TO BE SHARED AMONG THE INSURERS ON THE BASIS OF THEIR RESPECTIVE MARKET SHARES IN THE BUSINESS. COLLECTION IN 2007-08 OF Rs.2,800 crs.
164

Motor Insurance I

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1

ACCIDENTAL INJURY / DEATH OF THIRD PARTY PROPERTY DAMAGE OF THIRD PARTY

HISTORY OF MOTOR INSURANCE

1939 MOTOR VEHICLE ACT WAS PASSED IN INDIA.

1989 THIS NEW ACT BECAME EFFECTIVE FROM 01-07-1989

APPLICABILITY OF BASIC PRINCIPLES

TYPES OF MOTOR VEHICLES

TYPES OF MOTOR VEHICLES

COMMERCIAL VEHICLES ALL OTHER VEHICLES

CLASSIFICATION OF COMMERCIAL VEHICLES

MISC. & SPECIAL TYPE VEHICLES

COMPULSORY THIRD PARTY INSURANCE

INDIA MOTOR TARIFF

LIABILITY ONLY POLICY

INCLUDING CLAIMANTS COST & EXPENCES.

IN CASE OF INSUREDS DEATH, HIS PERSONAL REPRESENTATIVE WILL BE INDEMNIFIED.

AVOIDANCE OF CERTAIN TERMS AND RIGHTS OF RECOVERY

PERSONAL ACCIDENT COVER TO OWNER -DRIVER

b) ACCIDENT HAPPENING UNDER THE INFLUENCE OF INTOXICATING LIQUOR OR DRUGS 21

GENERAL POLICY CONDITIONS

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

e) FLOOD, TYPHOON, HURRICANE, STORM, TEMPEST, INUNDATION, CYCLONE, HAILSTORM, FROST

f) ACCIDENTAL EXTERNAL MEANS;

PRIVATE CAR PACKAGE POLICY

FOR FIBRE GLASS COMPONENTS - 30%

PRIVATE CAR PACKAGE POLICY

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

- Rs. 500 (max)

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

COVER AS PER THIRD PARY LIABILITY POLICY

PACKAGE POLICY PRIVATE CAR

COVERAGE SAME AS STUDIED IN T.P.LIABILITY COVER

PACKAGE POLICY PRIVATE CAR

6) LIABILITY ARISING FROM RADIATION, RADIOACTIVE CONTAMINATION

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR GENERAL CONDITIONS

1. WRITTEN NOTICE OF CLAIM 2. NO ADMISSION, OFFER OR PAYMENT WITHOUT WRITTEN APPROVAL

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY PRIVATE CAR

PACKAGE POLICY 2 WHEELERS

PACKAGE POLICY 2 WHEELERS

PACKAGE POLICY 2 WHEELERS

PACKAGE POLICY 2 WHEELERS

PACKAGE POLICY 2 WHEELERS

PACKAGE POLICY 2 WHEELERS

PACKAGE POLICY COMMERCIAL VEHICLE

PACKAGE POLICY FOR COMMERCIAL VEHICLES

1. NO LIABILITY FOR DAMAGE CAUSED BY OVERLOADING OR STRAIN OF THE 51 VEHICLE

PACKAGE POLICY FOR COMMERCIAL VEHICLES

PACKAGE POLICY FOR COMMERCIAL VEHICLES

PACKAGE POLICY COMMERCIAL VEHICLES

PACKAGE POLICY COMMERCIAL VEHICLES

PACKAGE POLICY FOR COMMERCIAL VEHICLES

PACKAGE POLICY FOR COMMERCIAL VEHICLES

PACKAGE POLICY FOR COMMERCIAL VEHICLES

OTHER TYPES OF POLICIES