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Shipping woes of Chennai companies S Ramanathan – a versatile musician, musicologist Tihar, Puzhal not different from Parappana Agrahara Lalu’s envy, India’s pride Lesson from Chandrababu Naidu F C Kohli - his concerns all embracing Modi and the lady Breaththrough in malaria control Medical costs hit the roof... Fuel for thought Cleaning Ganga – relocate tanneries and install electric crematoria The power-full Hindujas Tough task taking states together Like Hinduism: many paths to reach God... Insurance companies bleeding, yet no decision on increasing FDI limit! The Jan Dhan bonanza TELANGANA at last…BUT Recognition to role of NBFCs.... Parliament in paralysis... Tax agriculture Preserving for the future Rahman at CIC Fall in crude prices help in oil sector reform Shale gas and its shallow future Demise of a media baron... Poor representation for Kerala and TN in Cabinet Fortune 500 review The Swadeshi Trump Banning booze... Put expensive assets created to use... 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Welcome changes that testify to Jayalalithaa’s return to health Paytm karo... The rise and fall of Annamalai University West Bengal: mindless malignancy Engineering seats go abegging Bihar – Nitish Kumar adopts the Lalu model Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Moily’s bold thrust Airlines in India: cost and space Road development slows down A think tank for Chennai Where a state respects its litterateurs… Why land prices zoom in TN? When small is no larger beautiful.. IPL - no surprise this scam An enemy’s enemy is a friend There was flood of milk. Reason: no milk commissioner! Sri Lanka votes for change Vibrant Gujarat Modi storms Silicon Valley Reliance’s TV – 18 ready to launch Tamil News Channel Scientists urged to take up farmer-oriented research Music happens Tribute – M V Murugappan Auto components surge… CSR and CMI: promise of another Srinivasan Ramanujan... Delhi is distant… A more liberated TN… When TN politicians can emulate Kerala's Five star activism stalls development activity TN accounts for the largest recruits by the IT sector The nuclear option Russi Mody – a tribute Editor's Notes Fortune for Indian Airlines Wise Presidents Naidu will soon build a new Hyderabad Godspeed, Chief Minister JJ to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Tribute – UCAL Selvan… Revving up the manufacturing sector More Shakti to resource mobilisation... Adapt Vajpayee dinner diplomacy A professional at the helm of IRDA... The balancing act CRS, a jewel among managers, is no more. Cement prices continue to rise… Streamlining mandatory third party cover Intellectual of rare qualities Bihar elections - the Rajaji formula worked This scant respect for Law The why of tax incentives Rs.1600 crore paper board plant of TNPL Gay abandon in pricing Kulandai was a giant A Grand Finale for SN’s MS centenary at the US… Welcome thrust on trade in Modi’s foreign visits... When the President was rendered homeless… EVM is tamper-proof More Shakthi to Das’ elbow Liberal imports idling indigenous capacities GM Technology at last! When Ratan Tata visited SRM Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Polls and promises MHC should not return to its old indisciplined ways Adharma of opposition politics New IT products of Ramco in the pipeline… A glass full of corruption Measuring roof tops in terms of KW/MW Silver Years of Madras Musings Making ‘my Amaravati’... Things happen by accident and not by design... For whom the MIDS bell tolls? Marketing expert Balagopal is no more Delhi is distant A welcome initiative by the judiciary All eyes on Sankara Nethralaya Convulsions in The Hindu The ‘Jayanthi Tax.’ London, London Narayan Secularism and anti-Hinduism EEC at the National Media Centre Inflation: are we emulating Argentina and Brazil? An informal presentation - analytical, forward locking... Funding the un-funded SoA @ 80 IPL type auction for VCs? R Sridhar steps down as CEO of Shriram Capital Shaming of Tamils by Tamil farmers at Delhi Mersal magnified ONGC at KG Basin Tribute PPP mode for upgrading Corporation Hospitals Gas is the way forward Muffled voices for merit… Quality education through the PPP mode Welcome GST Contrarian cousins IAS invades NDDB...
 
Streamlining mandatory third party cover

Even as I commend Nitin Gadkari for his initiative to streamline the issue of driving licences, I suggest his looking into a related area: the gross violation and indifference of owners of motor vehicles to take the mandatory insurance policies for third party cover. The violation extends to over 70 per cent in the case of two-wheelers and 50 per cent for cars and commercial vehicles.

This arises from two factors: one, the task of detecting such violations is with the state government through their RTOs and police departments. These have not been able to cope with the enormous increase in work, attending to the various aspects of administering and regulating road transport. Secondly, they have not had their records automated. Earlier, it was possible to attend to this at the time of payment of annual road taxes. But when the state governments changed this to collect road taxes on life time basis of ten years, enforcing of third party cover could not be made annually.

Insurance companies do have such records at least in regard to new vehicles sold over the last decade or so when the IT sector has evolved. But these have also been disparate companies not working in any coordinated manner. IRDA has been focusing on data collection in recent years.

The problem, however, relates to the coordination between the Centre and the states. Working in unison will help keep track of non-renewal of third party insurance policies.

A recent effort is to increase the duration of third party insurance to three years for two-wheelers. Doing this for cars and commercial vehicles is resisted on grounds of the higher sums involved. But if a substantially large volume of vehicles could be brought under mandatory third party insurance, there is scope for reducing the premium substantially. Such a system will also help insurance companies to reduce the humongous losses they have been suffering on motor vehicle insurance. For years, general insurance companies have been bleeding on account of the losses suffered on motor vehicle portfolio, despite the regular increase in tariff.

A solution can be found in permitting large private companies involved in the automobile sector to join hands with the government. In this, insurance companies and IT companies could be involved. The PPP mode can help attend to this issue of considerable importance in quick time. Nitin Gadkari, who has breathed fresh air in regard to the issue of driving licences and who has suggested the closing down of the inefficient RTOs, should focus on this area as well.

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