The Insurance Regulatory and Development Authority(IRDA) has proposed nearly 50% hike in third party insurance premium for most categories of vehicles for 2017-18.
It is likely that insurers would push for another round of increase once the Motor Vehicle (Amendments) Bill is passed with the proviso that insurance companies pay the entire compensation awarded by motor vehicle claims tribunal. Here is a look at proposed rates for third party motor vehicle insurance.
It is likely that insurers would push for another round of increase once the Motor Vehicle (Amendments) Bill is passed with the proviso that insurance companies pay the entire compensation awarded by motor vehicle claims tribunal. Here is a look at proposed rates for third party motor vehicle insurance.
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