Clarification- Issuing Long Term Motor Products- private car and two-wheele

• JI ~,(EO~ m Pc1Pt~1'1cfi att-{ m ~ INSURANCE REGULATORY AND ir.lai DEVELOPMENT AUTHORITY OF INDIA Ref: IRDAI/NL/CIR/MOT/112/07/2019 Dated: 11 1hJuly, 2019 ALL GENERAL INSURERS (OTHER THAN STAND-ALONE HEALTH INSURERS AND SPECIALISED INSURERS) Re: Clarification: Issuing Long Term Motor Products- private car and two- wheelers As per the Circular Ref: IRDA/NL/CIR/MOT/137/08/2018 dated 28th August, 2018 on implementation of the Directions of the Hon'ble Supreme Court of India in the matter of WP No.295/2012 of Shri.S. Rajaseekaran vs Union of India and Ors. , all general Insurers shall offer three-year Motor Third Party Insurance cover for new cars and five- year Motor Third Party Insurance policies for new two-wheelers. It is hereby reiterated that long term motor product permitted under para 2(i), 5 (i) shall be offered only to new private cars and new two-wheelers. These products shall not be offered for renewal of existing policies or for old vehicles. However, Long Term Two Wheeler Insurance Policy being issued for three-years as permitted vide circular ref IRDA/NL/CIR/MOTP/192/08/2014 dated 4th August, 2014 may continue to be offered for renewal. Jz~ (T. L. Alamelu) Member (Non-life) 1 ~ ;t_ 115/1 , ~ ~. 11 ,Jifi(l l-1 ~:s I, ~-500 032, 'qffil I SuNey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India (5) : +91-40-2020 4000 ~ : www.irdai.gov.in (5) : +91-40-2020 4000 Website : www.i rdai.gov.in