Under the Officers of Parliament (Advances for Motor-Cars) Rules, 1953, is insurance of the motor-car mandatory for Officers of Parliament? What should the insurance policy include?

Yes, under the Officers of Parliament (Advances for Motor-Cars) Rules, 1953, it is mandatory for Officers of Parliament, such as the Speaker of the Lok Sabha, Deputy Speaker of the Lok Sabha, Deputy Chairman of the Rajya Sabha, and Chairman of the Rajya Sabha, to insure the motor-car purchased with the advance. The insurance policy must fully cover the car against loss or damage by fire, theft, or accident. The insurance must be maintained throughout the period during which any portion of the advance remains unpaid.