The Insurance Regulatory and Development Authority of India (IRDAI) has revised the premium rates for third-party motor insurance effective from April 1, 2018. IRDAI, has been revising the third-party premium rates every year since 2011, prior to the start of the new financial year.
The yearly revised premium for third-party insurance is brought out by IRDAI based on data provided by insurers on third-party risks, claims developments and loss experiences during the year. Over the past two-three years the third-party premium rates were hiked by around 20–30 per cent. This year, ...
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First Published: Thu, March 15 2018. 13:11 IST
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