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

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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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