• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Coimbatore , Jan. 16

The State Lorry Owners' Federation-Tamil Nadu (SLOF-T) has expressed support to the strike called by the All India Motor Transport Congress (AIMTC) from the mid-night of January 20 demanding scrapping of the nearly 150 per cent increase in third party insurance premium imposed by the public sector and private insurance companies with effect from January 1.

In a statement, Mr P. Sengodan, President, SLOF-T, Namakkal, said the insurance companies had provided the third party insurance cover with the approval of the Insurance Regulatory and Development Authority (IRDA).

He said the insurance companies, of late, have been avoiding issuing this insurance cover on the plea that it was causing losses. But the insurance companies have been making huge profits in other motor insurance businesses such as own damage. Sometimes, the insurance companies collected extra charges in the name of loading before providing third party insurance cover, forcing the fleet owners to incur greater expenses to get insurance cover.

Mr Sengodan said the charges for third party insurance cover had been hiked by around 150 per cent with effect from January 1. The SLOF-T had pleaded in the past for simplifying the process of issuing the third party insurance cover. The AIMTC had several meetings with the Centre and with the insurance companies to sort out the issue. As the talks have failed to bear fruit, it was joining the nation-wide strike.

Expressing the support of SLOF-T to the strike, he requested all segments of the transport sector including owners to trucks, tankers, trailers, mini lorries and vans to join the strike. However, essential services were exempted from the proposed indefinite strike.

More Stories on : Trade & Labour Unions | General Insurance | Roadways | Tamil Nadu

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Kingfisher flight to Bangalore

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line