Members of the Association of Owners of own vehicles Andhra Pradesh (APloa) raised a strong objection to the proposed increase in premiums at the insurance insurance authority for regulation and development in India (Irdai) and demanded transparency in the area of premium requirements and data.
In a letter addressed to Irdai chairman on Friday (June 13), the Secretary General of Aploa and Vice -Chairman of the Southern Congress zone for the YV ESWARA Rao India, stating that the Office recommended an increase of 20 to 25% and the ministry said its implementation. “This caused serious concerns about the parties,” he said.
He said that third -party insurance was a mandatory requirement under the Motor Vehicles Act. “However, in current economic circumstances, the proposed increase will impose a significant financial burden on the lamps of small and medium transport operators,” he said, pointing out that more than 85% of vehicles in the transport sector were tiny operators who were already winding high maintenance and police descriptions and police officials and police.
He said that the development of motorways and highways of international standards has reduced the risk of accidents, especially including trucks that represent 86% of highway traffic. The contribution of heavy vehicles to the total traffic accidents was relatively low, he claimed.
Mr. ESWARA RAO said that from the entry of private insurance companies, the load on third -party demands has disproportionately shifted to transport vehicles. “However, no transparent public data are available about these claims,” he said.
Members asked Irdai to publish details of third -party demands in the last five years (FY 2020 per FY 2025) category, total amount of paid claims, categorized by vehicle type, premium collection data from each insurance company and year -round and categories of registration vehicles, nationwide.
“We have long demanded that 12% of GST currently select third -party insurance premiums, because this insurance does not provide any direct benefits for payers, but it is more of a social obligation,” said Mr. Eswara Rao and urged Irdai to be premieres of premium pedestrians. “It must only be done after consultation with the parties, especially with the members of the All-India Congress Congress (AIMTC) congress,” he said.
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Published – June 13, 2025 21:14
