Exposure draft on revision in Premium Rates for Motor Third Party Insurance Covers for the Financial Year 2013-14

As per the Authority’s order no. IRDA/NL/NTFN/MOTP/066/04/2011 dated 15th April 2011, the Authority would review and adjust the premium rates for motor third party insurance covers annually based on the formula as given hereunder: Read more

Why Motor Third Party Insurance in compulsory in India

Section 146 of the Motor Vehicles Act, 1988 provides that no person shall use ( except as a passenger), or allow any other person to use, a motor vehicle in a public place, unless the vehicle is covered by a policy of insurance complying with the requirement of the Act.

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