Online edition of India's National Newspaper
Tuesday, Sep 27, 2005
Online edition of India's National Newspaper Tuesday, Sep 27, 2005 |
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Mangalore
Special Correspondent
MANGALORE: Private transport operators under the State Bus Owners' Federation will evoke the directives of the Insurance Regulatory Development Authority (IRDA) against what they referred to as the autocratic denial of renewals and unwarranted "loading" on insurance policies of stage carriages in the private sector. Irked by the notices issued to bus owners by insurance companies, the federation is advising bus owners to renew their insurance without paying the "load" mentioned in the insurance premium demand note from the companies. Speaking to The Hindu , president of the federation Rajavarma Ballal said insurance companies are unnecessarily loading insurance policies even if the vehicles have not met with an accident . He said there have been several instances when companies have increased the premium without assigning reasons for their actions. Mr. Ballal said the meeting called by the federation in Mangalore on Thursday was inconclusive. Many insurance companies failed to send their representatives .
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