Kerala govt to canvass insurers on reduction in premium for drivers who obey traffic rules

Thiruvananthapuram: Kerala transport minister Antony Raju has announced plans to engage in discussions with insurance companies regarding the concept of a non-violation bonus within vehicle insurance. This decision emerged from a high-level meeting convened on Thursday.

The rationale behind this initiative lies in the correlation between reduced road accidents and fatalities, resulting in significant savings for insurance companies. The proposal calls for insurers to consider providing incentives, such as discounts, to policyholders who adhere to traffic regulations, while imposing fines on those who persistently flout these rules.

As part of this initiative, an annual renewal requirement will be implemented, necessitating the settlement of any outstanding traffic violation fines before insurance renewal. Additionally, insurers will be encouraged to contribute to the immediate post-accident golden hour treatment and to facilitate training programmes for both the general public and ambulance drivers in this domain. They will also be asked to install sign boards along roadsides.

Minister Raju shared that a meeting with insurance company executives and officials from the Insurance Regulatory and Development Authority (IRDA) is slated for the third week of September to deliberate upon these propositions.