Motor Third-party Insurance Premiums
Motor third-party premium rates to be revised after two years
The ministry of road transport and highways released a draft notification for revising the motor third party premium rates for the financial year 2023
 "Motor third-party premium rates to be revised after two years")
'Bumper-to-bumper' insurance: HC order to make cars costly, say experts
If the order is implemented, it will lead to an increase in the insurance outgo for car owners by a minimum Rs 50,000 for car and a minimum of Rs 7,000 for two-wheeler owners
 "'Bumper-to-bumper' insurance: HC order to make cars costly, say experts")
'Bumper-to-bumper' insurance should be mandatory, says Madras HC
In a significant order, the Madras High Court has ruled that "bumper-to-bumper" insurance should be mandatory whenever a new vehicle is sold, from September 1. This must be in addition to covering the driver, passengers and owner of the vehicle, for a period of five years. Thereafter, the owner of the vehicle must be cautious in safeguarding the interest of driver, passengers, third parties and himself/herself, so as to avoid unnecessary liability being foisted on the owner of the vehicle, as beyond five years, as on date there is no provision to extend the bumper to bumper policy, due to its non-availability, Justice S Vaidyanathan said in a recent order. The judge was allowing a writ petition from the New India Assurance Company Limited in Avalpoondurai, challenging the orders dated December 7, 2019 of the Motor Accidents Claims Tribunal, Special District Court in Erode. The Insurance company pointed out that the insurance policy in question was only an "Act Policy", which woul
 "'Bumper-to-bumper' insurance should be mandatory, says Madras HC")
Delay in third-party premium hike hurting balance sheets: Insurers
The insurance regulator had proposed a hike in third-party premium for FY21 but it was put on hold to provide relief to policyholders during the pandemic
Irdai working group proposes 'traffic violation premium' in motor insurance
It will float over own damage and third party sections and can be attached to any section of motor insurance cover bought
 "Irdai working group proposes 'traffic violation premium' in motor insurance")
Irdai fixes motor third-party insurance premiums for FY19
General insurers told Business Standard the reduction in premium rates would motivate customers, especially private car and motorcycle owners
 "Irdai fixes motor third-party insurance premiums for FY19")
