Insurance Renewal Policy: Insurers Told To Ask For PUC Certificate From Vehicle Owners
The Supreme Court had in 2017 directed firms to ask for the PUC certificate for insurance renewal.
Not many vehicle owners know that the insurance renewal policy would also require them to submit a Pollution Under Control (PUC) certificate.
However, it also seems that insurance firms do not follow that particular rule, since the Insurance Regulatory and Development Authority of India (IRDAI) has sent out a notification on the matter.
In August 2017, the Supreme Court directed insurance companies not to insure a vehicle unless “it had a valid PUC certificate on the date of renewal of the insurance policy”.
This is the second time IRDAI has sent such a notification about Supreme Court’s directive on the insurance renewal policy in as many years.
“Central Pollution Control Board (CPCB) has raised concerns regarding the status of compliance of above direction of Supreme Court of India in National Capital Region of Delhi (Delhi-NCR),” read the notification.
IRDAI has specifically asked all insurance firms to ensure that they follow the Supreme Court’s order with special focus on compliance in Delhi-NCR.
As per the new Motor Vehicles (Amendment) Act, 2019, violation of PUC norms would invite a fine of Rs. 10,000/-, but the Act is yet to be implemented across the nation.
Insurance Renewal Policy
- IRDAI sends notification to insurance firms about policy renewal
- Advises them to seek valid PUC certificate from vehicle owners
- Supreme Court had issued an order on the matter back in 2017
Source – carandbike.com
