News From Press Link motor third-party obligation to number of uninsured vehicles: Irdai

Link motor third-party obligation to number of uninsured vehicles: Irdai

Currently, the motor third party obligation is based on the amount of premiums an insurer collects on any given year out of motor third party business.

Business Standard Apr 25, 2020

A working group of the insurance regulator, IRDAI, has recommended that motor third party obligation of non-life insurers be linked to the number of vehicles insured or uninsured instead of the premium derived from the segment.

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