'Does It Even Fix The Problem': Acko Founder On Top Court's Insurance Order
Acko founder Varun Dua has criticized the Supreme Court's order to increase mandatory third-party motor insurance tenures. He argues that the mandate fails to address the root causes of why many vehicles remain uninsured.
Why it matters
Challenges regulatory policy in the insurance sector and highlights potential inefficiencies in government mandates.
Days after the Supreme Court extended the mandatory third-party motor insurance cover for new vehicles, Acko founder Varun Dua has published a detailed critique of the order on LinkedIn.In a post titled "Since When Does a Court Design an Insurance Product?", Dua questioned the decision to increase the mandatory third-party insurance tenure for new vehicles. He also raised questions about whether the move addresses the actual reasons why millions of vehicles remain uninsured. What Did The Supreme Court Order Say?On August 4, the Supreme Court directed that third-party insurance for new cars should be purchased for four years, instead of the existing three years.
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