News From Press Motor, fire and accident insurance premiums may rise soon as insurers set to get more pricing power

Motor, fire and accident insurance premiums may rise soon as insurers set to get more pricing power

Source: CNBCTV18 Nov 14, 2023

General Insurance companies may soon be able to set their own prices for motor (third-party), fire and accident insurance products. The Insurance Regulatory and Development Authority (IRDAI) has set up a task force to draw up the framework, which will guide how these companies can increase or decrease premiums on these products. This comes after existing tariffs were de-notified.

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