Revisiting Motor - Liability Insurance: The Indian Context

Abstract

Motor- Liability Insurance or third-party liability cover is an insurance policy that covers the insured’s legal liability for death or disability to a third-party or damage to the third-party property. Evolving automobile sector and the dynamic consumer preferences in the Indian markets call for the need to analyze the existing practices in the Motor-liability insurance in the market and adapt them according to the changing scenario. The article addresses the problems with the existing practices and makes a few suggestions for adapting the liability insurance for the evolving market.