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@ LiveMint

Traffic violations to be linked to motor insurance premium

There’s more to add with Motor Vehicles Act for the traffic violators, recently when the government implemented the Motor Vehicles Act, the Insurance Regulatory and Development Authority of India (IRDAI) formed a nine-member working committee to examine linking premiums with traffic violations. Now it just won’t be about paying a heavy fine when you violate a traffic rule; it will also have a bearing on your motor insurance premium. The move will discourage traffic rule violators and reward good driving behavior. It will help India adopt global practices, leading to further innovations in the space.

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