IRDA and insurance in India

IRDA and insurance in India

3rd party insurance covers are not available online inspite of all other types of insurance having come online for a long time now.

As per law it is illegal to drive a vehicle on Indian Roads without a valid 3rd party insurance cover.

As per law IRDA has been entrusted with the duty to regulate the insurance business in India.

Today more than 60% vehicles ply on Indian Roads without effective 3rd party insurance.

It is complete failure of IRDA and government to regulate the insurance business in India.

In view of complete failure of IRDA to regulate the insurance business to fulfill the statutory needs, it has no right to survive.