Motor Insurance

CRED members with credit scores above 750 will receive motor insurance at reduced premiums

Your Guide to Comprehensive Motor Insurance in India

The motor insurance vertical of Cholamandalam MS General Insurance Company Ltd will contribute to 62-63 per cent of the business by the end of this financial year, a top official of the company said. The company, a joint venture between Murugappa Group and Japan-based Mitsui Sumitomo Insurance Group, also expects to increase its equity investments, Managing Director V Suryanarayanan said. The city-based company recorded a Gross Written Premium of Rs 1,945 crore for the April-June 2024 quarter, a growth of 14.3 per cent compared to the industry average of 12.4 per cent. Briefing reporters, Suryanarayanan said the company expects motor insurance to make up 62-63 per cent of its business by the end of the current financial year, while it was looking at strong growth in the health insurance portfolio. "We expect motor insurance (portfolio) to be at around 62-63 per cent by the end of the year (from the current 60 per cent), commercial vehicle insurance will be 16 per cent, health shoul

The insurance regulator had allowed general insurers to introduce pay as you drive and pay how you drive for motor insurance cover in 2022

What should you look for when choosing motor insurance? All you need to know

Insurance providers can deny a claim if the damage falls outside the coverage provided by the policy

Lack of regulatory clarity complicates matters on third-party data-sharing

The Irdai said retail policyholders can cancel their insurance policy at any time during its term by notifying the insurer, and will receive a refund for the remaining period of the policy

Know as to why cleaning your car interior need not be a Herculean task as you might imagine it to be using some simple, easily available household items.

The regulator's circular added that the special dispensation granted is applicable to the claims arising out of Cyclone Michaung and the resulting heavy rains/floods

Irdai has committed itself to enabling "Insurance for All" by 2047, where every citizen has life, health, and property insurance cover

These discussions took place at the Life Insurance CEOs panel at the Business Standard BFSI Insight Summit

We are the 15th largest general insurance market in the world, said Dasgupta

General insurance penetration in India remains low at 1 per cent as of FY21, compared to 3.4 per cent in Taiwan and 5.2 per cent in South Korea

IRDAI added that no additional premium will be charged until further directions are issued

Robust demand for health and motor covers buoyed non-life players' premium income in the first quarter of the current fiscal to Rs 64,262.8 crore, a growth of 17.9 per cent on-year when the industry had clipped at 23 per cent. The spike in sales of motor policy, which used to be the largest segment of the industry but is now pushed down to the second slot behind the health segment, is easily understood given the vrooming automobile sector that has sold more than 2 million units in the June quarter. The robust double-digit growth for the general insurance industry comes in sharp contrast to a 0.8 per cent decline that life insurers logged in the reporting quarter, driven down by the massive poor show by the industry leader LIC across its business verticals. In June, the non-life insurance industry reported a premium of Rs 20,451.9 crore growing by 14.8 per cent on-year compared to 20.6 per cent in the same period last year, according to the data collated by Care Ratings. The 17.9 ..

According to a draft notification, the base premium rates for third party motor insurance cover have been proposed at Rs 2,094 for private cars below 1,000 cc, Rs 3,416 for cars

From more expensive third-party motor insurance to pricey E2Ws to new rules for safe deposit lockers, read it all here

Mandatory KYC leads to 30-50% dip in demand for motor insurance from agents

Demand for health and motor insurance to continue though growth may dip, say experts