Third-party car insurance to cost more from next year
Wednesday, March 22, 2017, 4:12 PM
The Insurance Regulatory and Development Authority (IRDA) said an increase in the third-party motor premium is inevitable next financial year to take care of the health of the service providers. Third-party motor premium is the only segment in the general insurance sector that's still regulated. In the recently released exposure draft on the topic, IRDAI proposed a 50% hike in the third-party motor premium.