SC orders longer mandatory third-party insurance cover for new cars, 2-wheelers

The Supreme Court has directed the IRDAI to increase the term of mandatory third-party motor vehicle insurance for new cars from 3 years to 4 years. For new two-wheelers, the term will be extended from 5 years to 6 years. The court noted that a large number of vehicles remain uninsured despite the mandatory third-party motor insurance requirement.