Irdai partnering states to contact those with uninsured vehicles

The Insurance Regulatory and Development Authority of India (Irdai) is working with four state governments on ways to contact owners of uninsured vehicles, so that they renew their policies on time, said Subash Chandra Khuntia, chairman, Irdai. 

Under the Motor Vehicles Act, it is mandatory for all vehicles to have a third-party insurance cover.

The chairman said if the insurance companies, especially the general insurers, made an effort to reach out to policyholders for renewals and made them aware of renewing their policies, it would lead to more premium collection.

Acknowledging a dip in growth in the motor insurance segment,