News From Press Insurers unhappy over the delay in motor TP rate announcement for FY25-26

Insurers unhappy over the delay in motor TP rate announcement for FY25-26

Source: Financial Express Apr 23, 2025

General insurers are concerned over the delay in notification of the revised motor third party (TP) premium rates for 2025-26. So, insurers are collecting premiums announced last year.

If the new rates turn out to be higher, insurers risk incurring a loss, whereas if they are lower, it will be a loss for customers who have already purchased the cover.

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