General insurers should stop undermining losses; says IRDA

On December 19, 2011

Insurance Regulatory and Development Authority (IRDA) has asked general insurance companies to bring to an end on unhealthy marketing practices such as offering huge discounts to gain top line; as per IRDA it could lead to financial troubles for the companies. Earlier premiums for insurance policies were regulated as it…

IRDA increases premium rates for third-party motor insurance

On April 16, 2011

Source: Business Standard The Insurance Regulatory and Development Authority (IRDA) raised the premium rates for third-party motor insurance policies by 10-65% across different categories of vehicles and ownerships effective from 25th April 2011. While third-party premiums for personal cars and two-wheelers were raised by 10%, new premiums for commercial vehicles…

Get Ready to Pay More for Thrid-Party Motor Insurance

On March 16, 2011

IRDA is planning to introduce new index based policy for third-party motor insurance premiums and it will raise premium for third-party motor insurance by 50-80% this year. Ultimately insurers will not have to negotiate with transport unions every time they want to raise rates. Third-party motor insurance premiums in India…