Condemning the hike in the premium for third party insurance coverage for two-wheelers, four-wheelers and commercial vehicles, Tamil Nadu Sand Lorry Owners Federation warned of protest if the hike was not withdrawn immediately.
Addressing mediapersons here on Friday, federation president Sella Rasamani said that the Insurance Regulatory and Development Authority had allowed insurance companies to hike the premium by 25 per cent. “This will not only affect the lorry owners but also the common people,” he added. He said that the recent hike in toll gate fee and the hike in premium would increase the cost of essential commodities. Mr. Rasamani wanted the Central government to consider the hardship caused to the people and wanted the hike to be withdrawn. The federation president also said that if the premium holder dies in the accident or the vehicle gets damaged, private insurance companies pay only 25 per cent of the claim amount and refuse to pay the balance.
