What happen if I drive car which is insured in my father's name?

[Paras]

I have graduated from a leading MBA school and got a job in an MNC. As the job location is far from my residence, my father asked me to take his old car. I have queries -

1- Do I need to transfer the car in my name? If yes do I also need to take separate car insurance policy?

2- If yes, what will happen to existing insurance?

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