IRDAI to keep motor third party insurance rates unchanged beyond March 31
Updated : March 27, 2020 08:00 PM IST
Earlier in March, the insurance sector regulator had released a draft proposal to increase TP premiums by 2-10 percent from April 1.
IRDAI revises premium rates on a yearly basis, except long-term policies for cars, bikes where it changes every three years and five years, respectively.
Third party motor insurance is required for protection against financial liabilities in case of an accident.