Page 172 - Motor Insurance Ebook IC 72

The Insurance Times

satisfied about fact of its loss, destruction or
mutilation. The new Certificate shall be plainly
endorsed to the effect that it is a duplicate, issued
to replace the original.

When a fresh Certificate is issued on the
representation that a Certificate has been lost, and
if the original Certificate is later found by the holder,
it shall be forthwith delivered to the Insurer.

Q. 6. Explain the International practice of motor
Ans. insurance. How it is different to the Indian pattern
of insuring the vehicles?
Motor insurance in India has substantially followed the
practice of the UK market. In fact the policy terms
and conditions are very similar. Subsequent to de-
tariffing the new covers being offered by insurers are
broadly similar to what is available across the world.
It can thus be said that Motor insurance in India is
now globalised.

Internationally Motor is non tariff business except in
some the less developed countries of Asia and Africa.
There are wide variations in the premium rates for
the basic coverage and add-ons. Some of the
variations are on the basis of persons driving he
vehicle. Example female drivers are considered

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