Irdai proposes to increase third-party insurance premium for cars, two-wheelers
Updated : May 21, 2019 07:09 AM IST
The Insurance Regulatory and Development Authority of India (Irdai) has proposed to increase the Motor Third Party (TP) premium rates for cars below 1000 cc to Rs 2,120 from the existing Rs 1,850 for fiscal 2019-20.
Normally, the TP rates are revised from April 1. However, this time, the Irdai had decided to continue with the old rates until further order.
The Irdai has also proposed a discount of 15 percent, on Motor TP premium rates for electric private cars and electric two-wheelers.