Third party motor insurance, the segment that used to be a drag on insurers for more than a decade, has turned into a money spinner for these firms, thanks to increased premiums and motor safety norms.
General insurance companies collected Rs 26,523 crore under the third party motor segment in the last financial year while the premium collected under own damage was Rs 23,727 crore, according to the data published by insurance regulator Insurance Regulatory and Development Authority ..
