The owner of a motor vehicle by virtue of his title and possession has an insurable interest at the time of taking insurance, during the currency of the period of insurance, at the time of claim and at the time of renewal of the policy.
The provision for ?Constitution of Road Safety Councils was made in Act No. 59 of 1988.
Form 45 is used for making application for grant of tourist vehicle.
The dictionary defines the term ?knock for knock? as an agreement between auto insurers that in the event of an accident each insurance company will pay for the damage to the vehicle insured with it, without attempting to establish blame for the accident.
As the restrictions of the Tariff were seen to be a barrier for differentiation of product and development of new products, the insurers were demanding scrapping of the tariffs and freedom to devise policy wordings and determine rates to grow in the market.
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