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Frequent Traffic Violator? You May Have to Pay Higher Insurance
September 11, 2019
The government has asked the Insurance Regulatory and Development Authority of India (IRDAI) to set up a system that can allow the association of auto insurance premiums with the history of traffic violations of different people. A working group to create a roadmap for that has been set up already.
A pilot program to implement the premium escalation formula will be launched in the National Capital Territory soon. The working group has been asked to submit a report within 2 months.
Photo credit: arunpnair on VisualHunt.com / CC BY-SA
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