Third party cover, a goldenshock absorber

Compulsory motor third-party liability insurance was introduced in British India and a majority of Indian States from July 1, 1946.

Meeting with a road accident is traumatic. On the first day of my new job, I was heading to an insurance company office for a meeting. Right in front of the building I was knocked off my bike. All I remember is scrambling to escape a bus hurtling behind me. Many are not that lucky. In a moment they would stare at damage, injuries, death… The owner of the vehicle responsible for these bears the liability. No vehicle driver would hurt somebody intentionally, least of all themselves. Yet, 17 people are said to be dying every hour in India due to traffic related accidents. India forms only 1% of the global vehicle population, but 6% of motor accidents. Law enforcement is lax, and so is our compliance. Even those who comply are put at risk by those who don’t. Compulsory motor third-party liability insurance was introduced in British India and a majority of Indian States from July 1, 1946. This socially-oriented legislation continues today and protects both the insured owner of the vehicle as well as the third party who sustained the loss.