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Jul 22, 2014
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IRDA may allow 5-year insurance policies to ease renewal hassles
You may soon have a way out of the annual car insurance renewal hassle, replete with the pesky calls and haggling over the amount.
The insurance regulator is considering a proposal to allow insurers to offer policies with a one-time, five-year cover and is expected to issue fresh guidelines on such long-term products. These policies could come cheaper, too. "Some insurers have submitted proposals in this regard and we are evaluating them.
Source -
http://economictimes.indiatimes.com
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