IRDA proposes modification in depreciation rates in motor segment

Insurance Regulatory and Development Authority (IRDA) recently brought out a proposal to include paint material in the list of items which have depreciation rates. These rates apply for replacement of parts for partial loss claims in respect of vehicles and accessories and is covered by the General Regulation (9) of the erswhile India Motor Tariff. It is applicable for motor insurance claims under own damage (OD) category in motor insurance segment. Read more


An arm of the Insurance Regulatory and Development authority, the Tariff Advisory Committee is all set to dismantle the Motor Tariff regime from April 2005. The Tariff, which at present governs the rates that insurers charge for motor insurance premium, will be substituted by the file and use procedure. Read more