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Apr 01, 2015
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IRDAI hikes motor third party premiums for FY 2015-16
Vehicle insurance premiums will increase upwards of 30 per cent, depending on type of vehicle owned, from Wednesday.
The Insurance Regulatory and Development Authority of India (IRDAI) on Tuesday notified the revised motor third party insurance premium rates which will come into effect from April 1, 2015.
Reconsideration of increase Though the authority had proposed a steep hike in the mandatory motor third party premium rate up to over 100 per cent in its exposure draft released earlier, there has been moderation in the hike in rates for most common classes for vehicles.
Source -
http://www.thehindubusinessline.com
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