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Date: 05-Jan-2024 Category: Extra Ordinary State: Union Government Country: India

Motor Vehicles (Third Party Insurance Base Premium and Liability) Amendment Rules, 2024

Issued by Ministry of Road Transport and Highways · Deptt. of Road Transport and Highways

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Executive Summary & Key Takeaways

What it means

  • The gazette notification introduces the Motor Vehicles (Third Party Insurance Base Premium and Liability) Amendment Rules, 2024. These rules amend the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022, specifically concerning the base premium for third-party insurance for certain vehicle categories.
  • The notification follows a period of public consultation, where objections and suggestions to the draft rules were invited and considered by the Central Government.

Key Changes

  • The notification amends Rule 2 of the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022.
  • Specifically, it changes the entries in Table II and Table VII related to vehicle category C1b.
  • In Table II, for category C1b, the entries under Columns (3) and (4) are replaced with "2,371" and "1,134" respectively.
  • In Table VII, for category C1b, the entries under Columns (3) and (4) are replaced with "1,539" and "737" respectively.
  • The amendment rules come into force on the date of their publication in the Official Gazette, which is January 5, 2024.

Impact Analysis

Vehicle Owners (Category C1b)

  • Action Items: Vehicle owners may need to adjust their budgets to account for the changes in insurance premiums.

Insurance Companies

  • Action Items: Insurance companies should update their policy documents and related materials to reflect the changes.

Insurance Regulatory and Development Authority (IRDAI)

  • Action Items: IRDAI may need to provide guidance and clarifications to insurance companies and the public regarding the new rules.

General Public

  • Action Items: Increased awareness can lead to better compliance and understanding of insurance requirements.

Key Entities Referenced

Ministry of Road Transport and Highways: The government ministry responsible for formulating and administering the rules related to motor vehicles and road transport. Motor Vehicles Act, 1988 (59 of 1988): The principal legislation governing motor vehicles in India, which empowers the Central Government to make rules regarding motor vehicle insurance. Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022: The original rules that are being amended by this notification. These rules define the base premium and liability for third-party insurance. Motor Vehicles (Third Party Insurance Base Premium and Liability) Amendment Rules, 2024: The new rules introduced by this notification, which amend the 2022 rules. Insurance Regulatory and Development Authority (IRDAI): The regulatory body that oversees and regulates the insurance industry in India. IRDAI was consulted during the formulation of these amendment rules. Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), notification number G.S.R. 394(E) dated the 25th May, 2022: The gazette notification in which the original Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022 were published.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-06012024-251207 xxxGIDHxxx CG-DLxx-xEG-I0D6E0x1x2x0 24-251207 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 27] नई दिल्ली, िुक्रवार, िनवरी 5, 2024/पौष 15, 1945 No. 27] NEW DELHI, FRIDAY, JANUARY 5, 2024/PAUSHA 15, 1945 सड़क पररवहन और रािमाग गमत्रं ालय अजधसचू ना नई दिल्ली, 5 िनवरी, 2024 सा.का.जन. 32(अ).—मोटर यान अजधजनयम, 1988 (1988 का 59) की धारा 212 की उप-धारा (1) की अपेक्षा के अनुसार, मोटर यान (ततृ ीय पक्ष बीमा आधार प्रीजमयम और िेयता जनयम, 2022 के प्रारूप जनयम भारत सरकार के सड़क पररवहन और रािमागग मंत्रालय की अजधसूचना संख्या सा.का.जन. 441(अ), तारीख 14 िून, 2023 द्वारा भारत के रािपत्र, असाधारण, भाग-II, खंड 3, उप-खंड (i) में प्रकाजित दकए गए थ,े जिनमें ऐसे सभी व्यजियों से, जिनकी उनस े प्रभाजवत होन े की संभावना ह,ै उस तारीख से, जिनको उक्त अजधसूचना म ें अतं ्वग्ट रािपत्र की प्रजतया ं िनता को उपल्ध करा िी िाती ह,ैं से तीस दिन की समाजि से पूवग आक्षपे और सुझाव आमंजत्रत दकए गए थ े ; और, रािपत्र की प्रजतया जिसमें उि अजधसूचना प्रकाजित की गई थी, 15 िनू , 2023 को िनता को उपल् ध करा िी गयीं थीं; और, केंद्रीय सरकार द्वारा उक्त प्रारूप जनयमों के सम् बन् ध म ें िनता से प्रा्‍ त आपजतिययों और सुझावों पर सम् यक रूप म ेंजवचार कर जलया गया था; अत:, अब केन् द्रीय सरकार, मोटर यान अजधजनयम, 1988 (1988 का 59) की धारा 147 की उप-धारा (2) द्वारा प्रित् त िजियों का प्रयोग करत े ुए, भारतीय बीमा जवजनयामक और जवकास प्राजधकरण के परामिग से मोटर यान (तृतीय 154 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] पक्ष बीमा आधार प्रीजमयम और िेयता) जनयम, 2022 म ें और संिोधन करने के जलए जनम्नजलजखत जनयम बनाती ह,ै अथागत:्- 1. (1) इन जनयमों का संजक्षि नाम मोटर यान (ततृ ीय पक्ष बीमा आधार प्रीजमयम और िेयता) संिोधन जनयम, 2024 ह ै । (2) य ेरािपत्र में उनके प्रकािन की तारीख से प्रवृत् त होंगे। 2. मोटर यान (तृतीय पक्ष बीमा आधार प्रीजमयम और िेयता) जनयम, 2022 के जनयम 2 म ें– (i) सारणी ii म,ें श्रेणी सी1बी से संबंजधत प्रजवज्ट यों म,ें स्ट्तभं (3) और (4) के अधीन प्रजवज्ट यों के स्ट्थान पर, क्रमिः, जनम्नजलजखत प्रजवज्ट यां रखी िाएंगी, अथागत्: - "2,371" और "1,134" (ii) सारणी vii म,ें श्रेणी सी1बी से संबंजधत प्रजवज्ट यों म,ें स्ट्तभं (3) और (4) के अधीन प्रजवज्ट यों के स्ट्थान पर, क्रमिः जनम्नजलजखत प्रजवज्ट यां रखी िाएंगी, अथागत्: - "1,539" और "737" [फा. सं. आरटी -11036/194/2021-एमवीएल] महमूि अहमि, अपर सजचव रट्‍पण: मूल जनयम भारत के रािपत्र, असाधारण, भाग II, खंड 3, उप खंड (ii) में अजधसूचना संख् या सा.का.जन. 394(अ), तारीख 25 मई, 2022 द्वारा प्रकाजित दकए गए थे । MINISTRY OF ROAD TRANSPORT AND HIGHWAYS NOTIFICATION New Delhi, the 5th January, 2024 G.S.R. 32(E).—WHEREAS draft rules further to amend the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022, were published, as required under sub-section (1) of section 212 of the Motor Vehicle Act, 1988 (59 of 1988), vide notification of the Government of India in the Ministry of Road Transport and Highways, number G.S.R. 441(E) dated the 14th June, 2023 in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (i), inviting objections and suggestions from all persons likely to be affected thereby before the expiry of the period of thirty days from the date on which the copies of the Gazette containing the said notification were made available to the public; AND WHEREAS, copies of the official Gazette in which the said notification was published, were made available to the public on the 15th June, 2023; AND WHEREAS, the objections and suggestions received from the public in respect of the said draft rules have been duly considered by the Central Government; Now, therefore, in exercise of the powers conferred by sub-section (2) of section 147 of the Motor Vehicles Act, 1988 (59 of 1988), the Central Government, in consultation with the Insurance Regulatory and Development Authority, hereby makes the following rules further to amend the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022, namely:- 1. (1) These rules may be called the Motor Vehicles (Third Party Insurance Base Premium and Liability) Amendment Rules, 2024. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Motor Vehicles (Third Party Insurance Base Premium and Liability) Rules, 2022, in rule 2, – (i) in Table II, in the entries relating to category C1b, for the entries under Columns (3) and (4), the following entries shall, respectively, be substituted, namely:- “2,371” and “1,134”. (ii) in Table VII, in the entries relating to category C1b, for the entries under Columns (3) and (4), the following entries shall, respectively, be substituted, namely:- “1,539” and “737”. [F. No. RT-11036/194/2021-MVL] MAHMOOD AHMED, Addl. Secy. Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide notification number G.S.R. 394(E) dated the 25th May, 2022. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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