The LG further emphasised that such a system would not only ensure that insurance costs align with the actual risk posed by individual drivers but also reduce the financial strain on insurance companies caused by frequent claims.
The LG urged the Finance Minister to engage with the Insurance Regulatory and Development Authority of India (IRDAI) to expedite the creation of a framework for index-linked insurance premiums.
A study by the World Bank further highlights that vehicles with multiple traffic violations are 40 per cent more likely to be involved in fatal crashes compared to those with a clean record.
The story "Drive safe or pay more: Delhi LG's plan to link traffic fines to insurance" has 456 words across 19 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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