Vitaly An. Maltsev - Candidate of Law, associate professor, Academy of Labour and Social Relations
Abstract. The current paper has considered the specifics of vehicle insurance and civil liability of their owners under Indian law. There have been shown the stages of formation and development of insurance legislation, as well as there have been listed the regulatory legal acts in this area that are currently in force. The focus has been made on the analysis of Indian vehicle and insurance laws, as well as the central regulations and provisions of the government. There have been described the features of the terms used in Indian laws. There have been studied the provisions concerning compulsory and voluntary vehicle insurance. There have been identified the conditions and procedure for issuing insurance policies. There has been given a characteristic of the types of insurance policies, such as the insurance policy of the “third party” and the comprehensive insurance policy, as well as the terms of their validity. There have been shown the features of vehicle insurance used for commercial purposes. There have been indicated the main types of insured accidents, as well as risks that are not subject to compulsory insurance. There have been analyzed the factors influencing the establishment of the insurance tariff and insurance premium, including when introducing additional conditions into the contract. There has been presented the system of bonuses used in the calculation of the insurance premium. There has been made an analysis of the amendments made in 2019 to the Law on Vehicles, because of the increased tariffs in insured accidents, as well as compensation payments to victims. There have been considered the requirements of the legislation regarding the mandatory actions of the driver in the case of an accident or injury to a person. There have been discussed the actions of the insurance company (official) upon receipt of information about the insured accident. There have been analyzed the decisions of the Supreme Court of India related to violations of the terms of the insurance contract by the insurer and its obligations for insurance payments in special cases. There have been indicated some problematic facets that take place in certain types of transport insurance. There has been given a brief analysis of the current state of the Indian transport insurance market.
Keywords: insurance legislation; vehicle insurance; civil liability insurance.
- Olivel' Patrik. Kodeks zakonov Manu [Law Code of Manu] / Patrik Olivel'. — N'yu-York : Izd-vo Oksfordskogo universiteta, 2004.
- Central Traffic Rules of 1989 [Central Traffic Rules of 1989] // Ministry of Road Transport and Highways, Government of India. — Retrieved July 4. ― 2013.
- Singkh, A. Zakon o strakhovanii. Otvetstvennost' pered tret'imi litsami [Law on insurance. Liability to third parties] / A. Singkh. — Deli : Vostochnaya Knizhnaya kompaniya, 1992.