Ad Here  
November
December
January
February
March
April
 
 
Permanent secretariat for TN GIM Multi-faceted Venkat Infrastructure funding – lessons learnt Sri Lanka votes for change Demise of a media baron... Lalu’s envy, India’s pride Valli, they are more marginalised The balancing act Align crops to agro climate endowments… ONGC at KG Basin CIPET hqrs to stay at Guindy – for the present? Land reclamation from sea appears cheaper! Colour-Chem’s colourful KRVS A more liberated TN… Roaring Ro-Ro facility This scant respect for Law Muffled voices for merit… When online building permits work…. London, London Narayan Delhi is distant Paytm karo... No mega rail project for Tamil Nadu Towards speedy justice Welcome focus on core competence Bihar elections - the Rajaji formula worked Contrarian cousins Wanted: a second airport for Chennai The rise and rise of KCP No Maha Koottani in TN... Excel Generators provide the vital back-up Alexa – Talking Wikipedia No engine for this car The sea- saw battle continues... When the President was rendered homeless… Whistle-Stop Tour of Raghuram Rajan A glass full of corruption TGS- The king storyteller A Grand Finale for SN’s MS centenary at the US… Banning booze... Welcome GST Waning interest in public discussions… Why this malaise in medical education? Recognition to role of NBFCs.... Sweeter prospects for sugar All eyes on Sankara Nethralaya Scientists urged to take up farmer-oriented research Secularism and anti-Hinduism Not just in-laws (and outlaws); they’ve renowned academics at the helm! Modi storms Silicon Valley Dr C Rangarajan returns to Chennai Adapt Vajpayee dinner diplomacy The Ports’ Pasha expands into Tamil Nadu Odisha: spectacular win by Naveen Patnaik The Gulf aviation boom West Bengal: mindless malignancy Limit foreign borrowings to hi-tech, export potential projects... …and of a popular trade leader A think tank for Chennai Air Asia India will set new benchmarks for budget travel CII projects higher growth… More tributes to GR How Air-India loses customs... Remembering Indira Sivasailam... Liberal imports idling indigenous capacities EEC at the National Media Centre TN-leverage strength of BHEL, NLC... For whom the bell tolls? A friendly business group MHC should not return to its old indisciplined ways A welcome initiative by the judiciary Return to king coal for urea... Kinetic Karnataka Russi Mody – a tribute Protest masters... Inflation: are we emulating Argentina and Brazil? S V Raju – a ‘good’ true liberal Boy, can you beat these? Like Hinduism: many paths to reach God... Bihar – Nitish Kumar adopts the Lalu model F C Kohli - his concerns all embracing Kudos to NDTV... Robber barons everywhere Where a state respects its litterateurs… The ‘Jayanthi Tax.’ Things happen by accident and not by design... Which side are you, Montek? Streamlining mandatory third party cover Diamond jubilee of Egmore Samskrt School Road development slows down A Grand Finale for SN’s MS centenary at the US… For whom the MIDS bell tolls? Naidu will soon build a new Hyderabad PC’s preference for professionals Build close rapport with business leaders Solar, solar everywhere … TN – agglomerate land holdings without alienating ownership Wise Presidents Padma Bhushan for A Ramakrishna Don’t seem to feel the pulse… When Ratan Tata visited SRM IPL type auction for VCs? L&T: focus on infrastructure and more infrastructure… Increasing non co-operation of state leaders Pharma – overdose of copying Shipping woes of Chennai companies Noble nonagenarians... Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Adharma of opposition politics More Shakti to resource mobilisation... Solar thermal shines… An informal presentation - analytical, forward locking... A C Muthiah – his munificent bequeaths to science An inexplicable neglect The few handicaps... Delhi is distant… Engineering seats go abegging Rahman at CIC Fall in crude prices help in oil sector reform Auto components surge… L&T- the specialty of special purpose vehicles Strengthen the base... Delhi Chalo... Poor representation for Kerala and TN in Cabinet New IT products of Ramco in the pipeline… Shale gas and its shallow future Revving up the manufacturing sector Telangana in top gear… Breaththrough in malaria control Gas is the way forward Discoms deserve better… Put expensive assets created to use... Haul over the coal R Sridhar steps down as CEO of Shriram Capital Cutting the nose to spite the face Come elections, come advertisements... IAS invades NDDB... Convulsions in The Hindu Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated The power-full Hindujas Silver Years of Madras Musings Maximising the micro pricing … When small is no larger beautiful.. Funding the un-funded Medical costs hit the roof... Tribute – UCAL Selvan… Where is Rajaji? Tribute Eternal support for capitalisation of PS banks The Jan Dhan bonanza When TN politicians can emulate Kerala's IPL - no surprise this scam Why land prices zoom in TN? Tatas moving out of urea production... Lesson from Chandrababu Naidu Insurance companies bleeding, yet no decision on increasing FDI limit! Small units prefers to remain small... Mu Sigma – is no more Godspeed, Chief Minister JJ EVM is tamper-proof Preserving for the future Editor's Says The brown list of Venkitaramanan Quality silica from Neyveli TIAM turns a full cycle A rich pool of talent not utilised…. Music happens WTO Meet: resolved to meet again Of course, Gujarat is vibrant China invests in India Tax agriculture Vibrant Gujarat Focus on quality of power - its only around 170-180V Parliament in paralysis... 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 Another Indian music maestro at the UN Should we change the official year? Readers' Mail Quality education through the PPP mode GNS - 100: our first subscriber Mersal magnified Tough task taking states together Sweet news for TN sugar mills Cement prices continue to rise… A professional at the helm of IRDA... Welcome changes that testify to Jayalalithaa’s return to health Shanti and Sadhana through Music CSR and CMI: promise of another Srinivasan Ramanujan... The nuclear option There was flood of milk. Reason: no milk commissioner! Welcome thrust on trade in Modi’s foreign visits... Marketing expert Balagopal is no more Make standards certification mandatory... Kulandai was a giant Naidu’s return augurs well for Seemandhra Fuel for thought GM Technology at last! The ‘Ayyo-yes’ is no more Reliance’s TV – 18 ready to launch Tamil News Channel More heat than light Editor's Notes The rise and fall of Annamalai University Intellectual of rare qualities Tribute – M V Murugappan Tihar, Puzhal not different from Parappana Agrahara Poor quality of university VCs Polls and promises Rs.1600 crore paper board plant of TNPL Measuring roof tops in terms of KW/MW Five star activism stalls development activity Online not in line with brick and mortar businesses... More Shakthi to Das’ elbow Building loyalty through the stomach The star of Spencers is no more Delhi returns to BJP B H Kothari - a tribute CRS, a jewel among managers, is no more. He continues the focus on social amelioration When nations steal growth from one another… Revive development banks... An enemy’s enemy is a friend Plummeting profits of PSBs Gay abandon in pricing TELANGANA at last…BUT A yen for wastage… The Swadeshi Trump The why of tax incentives Tatas moving out of urea production... Airlines in India: cost and space He saved millions from starvation... Computation of GDP – conundrums continue Modi and the lady Fortune for Indian Airlines PPP mode for upgrading Corporation Hospitals Nuclear power at the nucleus A proud Madrasi Moily’s bold thrust Shaming of Tamils by Tamil farmers at Delhi Tribute – Manikam Ramaswami S Ramanathan – a versatile musician, musicologist Fortune 500 review Making ‘my Amaravati’... SoA @ 80 TN accounts for the largest recruits by the IT sector Cleaning Ganga – relocate tanneries and install electric crematoria
 
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.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com