The finance ministry has sought the details of third-party motor covers for trucks that have been underwritten by general insurance companies since the new tariff regime was implemented in July 2002.
The ministry has sought information on the effect of the new tariffs on the mandatory third-party covers for trucks.
Non-life insurers have also been asked to furnish data on the trucks whose premiums were loaded keeping in mind the risk perception and their history on incurring claims.
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For a short while, insurance companies had started loading premiums based on past experience in incurring claims. It was subsequently withdrawn following protests by truck owners.
The new motor tariff rules have fixed premiums based on the age of the vehicle and the city in which it is registered.
The All-India Motor Transport Congress has demanded that