Premium for third-party motor insurance to be raised from June 16

Premium for third-party motor insurance to be raised from June 16

The Insurance Regulatory Development Authority of India (Irdai) has finalised the new premiums for the third-party liability insurance cover for FY20, which will come into effect from June 16. Earlier, it had issued an exposure draft on May 20, proposing a hike in motor third party insurance premiums and had invited comments from various stakeholders.

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