RTO Form 55

What is Form 55?

Form 55 refers to the Application Form for the Approval of Foreign Insurer. It is used when an authorised Indian insurance company agrees to act as a guarantor and seeks approval for a foreign insurer. Upon submission, the government verifies the application and, if satisfied, adds the foreign insurer to the list of approved insurers, maintained in accordance with Rule 159 of the Central Motor Vehicles Rules, 1989.

What Details are Included in Form 55?

Listed below are the details included in Form 55:

• Foreign Insurer Details: Name and office address of the foreign insurer.
• Authorised Insurer (Guarantor) Details: Address and signature of the authorised Indian insurance provider acting as guarantor.
• Date: Date of application submission.
• Others: Signature of the authorised insurer.

How to Download Form 55?

Below are the steps to download Form 55 online:

• Step 1: Visit the official website of Parivahan Sewa.
• Step 2: Tap on the option for Informational Services from the navigation bar.
• Step 3: Select the Downloadable Forms option from the drop-down menu.
• Step 4: Click on the Form 55 link to open and download the file.

Importance of Form 55

The pointers given below highlight the importance of Form 55 for foreign insurance providers:

• Legal Compliance: It ensures that a foreign insurer is officially recognised by the Indian government under Rule 159 of the Central Motor Vehicles Rules, 1989, making its policies legally valid within Indian territories.
• Financial Security: By requiring an authorised Indian insurer to act as a guarantor, it ensures there is a local entity responsible for the liabilities of the foreign insurer.

Things to Keep in Mind About Form 55

Authorised insurers must know these points to ensure effective approval for foreign insurers:

• The Role of the Guarantor: An application in Form 55 cannot be filed by the foreign company alone. It must be submitted by an authorised Indian insurance company acting as guarantor.
• Rule 159 Verification: Check whether the foreign insurer meets the specific criteria set out in the Central Motor Vehicles Rules, 1989.
• Signature of Authority: The authorised signature of the Indian insurance company must be present on the form. Improperly stamped forms may lead to rejection by the transport department.
• Documentary Evidence: Ensure required supporting documents are submitted along with RTO Form 55.