Bhubaneswar, Sept 6 (LocalWire): The implementation of the Motor Vehicles (Amendment) Act, 2019 has led to the many-folded rise in insurance policies of vehicles and insurance agents are laughing all the way to banks.
Though exact statistics on number of policies are yet to reach, officials and agents of both private and public sector insurance companies are having sleepless nights with long queue of clients.
‘The number of motor vehicle policies hovered around 90-100 in our branch. Now it has shot up to 800-900.
The branch is witnessing an abnormal rise in policies since 2 September, a day after the amended Act came into force.
As the Act provisions are stringent inviting hefty penalties on uninsured vehicles and its riders, there has been an unprecedented rise in policy seekers,’ said Shaktipada Mohapatra, an official of a state-run insurance company here.
‘With enormous workload, we are seeking help of service providers and agents so that those seeking insurance cover get it as early as possible,’ he added.
The majority of policy seekers are two wheeler riders, followed by three-wheeler owners.
The rush for policies for four wheelers is comparatively less. Many are also turning up at the office for renewal of lapsed policies.
‘My business has gone up. I am having a hectic schedule now.
Earlier, I was selling hardly 50-60 motor vehicle policies in a month.
But now I have more than 200 clients queuing up since 1 September.
The rush is going up almost every day as the city enforcement agencies have stepped up the drive to implement the amended Act.
My son, a college student, is helping me in documentation of new policies,’ said an insurance agent, Niranjan Kar.
‘We are working hard to provide service to policy seekers and are being suitably rewarded monetarily,’ he added.