The Insurance Regulatory and Development Authority of India (IRDAI) mandates that general insurance companies must provide motor cover to employees traveling in the employer's vehicle.
Banking & Finance
The Insurance Regulatory and Development Authority of India (IRDAI) has said that general insurers will provide compulsory motor insurance coverage to employees traveling in their employer's vehicles. The new directive was issued after the Madras High Court asked it to make India Motor Tariff-29 mandatory as an in-built coverage for employees while issuing private car policies for such vehicles. “All general insurers carrying on motor insurance business shall, as a mandatory underlying coverage while issuing private car policies, cover employees traveling in the employer's vehicle (including paid driver, if any) under IMT-29 of the Indian Motor Tariff cover as applicable.
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