Page 312 - Motor Insurance Ebook IC 72

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Authority to monitor the rates, terms and conditions of
cover for the time being:

And whereas it is in interest to ensure that all insurers
registered to carry on general insurance business
including motor insurance business actively participate
in providing such cover to vehicle owners at rates as
notified by the Authority from time to time:

Now therefore, the Authority, after consultation with
the Committee constituted under Sec. 110 G of the
Insurance Act, hereby directs that all general insurers
registered to carry on general insurance business
(including motor insurance business ) or general
reinsurance business shall collectively participate in a
Pooling arrangement to share in all motor third party
insurance business underwritten by any of the registered
general insurers in accordance with the pooling
procedure.

Q. 5. What is IMTPIP? Why this pool is facing
Ans: mounting opposition from private insurers?
The IMTPIP started operations in April 2007. The pool,
comprising 19 public and private sector non-life insurers,
takes over all commercial vehicle third party motor risks.
The share of each insurer in the pool was on the basis
of gross direct insurance premium collected. The pool

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