Winter Assembly Parliament: Insurance of Road Projects to be undertaken by the contractor at its own cost in highway development projects

New Delhi : There is provision for various insurances to be undertaken by the contractor at its own cost in highway development projects. As per the provision of the Agreement, the contractor/concessionaire is required to maintain following insurance for any loss and damages from the appointed date till the date of issue of the Completion Certificate.

 

(i) Insurance of works, plants and machineries

(ii) Insurance of contractor’s equipment and documents

(iii) Insurance for Contractor’s Defect liability

(iv) Insurance against injury to persons and damage to property.

 

Section 161 (as stands amended) vide Motor Vehicle (Amendment) Act, 2019, made provisions to enhance compensation in case of hit and run motor accident from Rs. 12,500/- to Rs 50,000/- for grievous hurt and from Rs. 25,000/- to Rs. 2,00,000/- in case of death. The Ministry has notified a new scheme as Compensation to Victims of Hit & Run Motor Accidents Scheme, 2022, vide notification GSR 163 (E) dated 25th February 2022. The implementation of this Scheme is pan-India. Ministry has also published rules, vide notification GSR 162 (E) dated 25th February 2022, regarding creation, operation and sources of the Motor Vehicle Accident Fund, to be used for providing compensation in case of Hit & Run accidents, treatment for accident victims and any other purpose, as may be specified by the Central Government.

Total number of road accidents occurred under category of hit and run in country during the period from 2015 to 2020 is given in table below.

 

Type of Collision 2015 2016 2017 2018 2019 2020
Hit and Run 57083 55942 65186 69822 57987 52448

 

This information was given by the Union Minister of Road Transport and Highways, Shri Nitin Gadkari in a written reply to the Lok Sabha

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