IRDAI releases Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the FY 2018-19

Mar 16, 2018 | by Avantis RegTech Legal Research Team

The Insurance Regulatory and Development Authority of India (IRDAI) has released the Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the Financial Year 2018-19.  IRDAI has proposed the Motor Third Party Insurance premium rates for various types of vehicles as under:-

·       Private Cars

·       Two Wheelers

·       Goods Carrying Vehicles (other than 3 wheelers)

·       Goods Carrying Motorized Three Wheelers and Motorized Pedal Cycles Trailers

·       Four / Three wheeled Vehicles carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers

·       Motorized Two Wheelers used for carrying passengers for hire or reward

·       Special type of vehicles

·       Motor Trade (Road Transit Risks)

·       Motor Trade (Road Risks)(Excluding/Including Motorized Two Wheelers)

[Ref No. IRDA/NL/MTP/2018-19/EXDRF]

URL: https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo3415&flag=1


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