THE MINISTRY OF ROAD Transport and Highways (MORTH), for the second time, will delay the announcement of motor insurance third-party premium for FY 2023-24 till June amid proposals from several quarters that the TP premium should be reduced as insurers are making huge profits from delayed claim payouts.
Since FY 2022-23, MORTH has taken over the task of fixing the revised motor TP premium from the insurance regulator IRDAI which used to unveil the draft for revised premium by March second week to be followed by the final rate to be made effective from April 1. However, last year, MORTH had issued the draft proposal by mid-May and the final rate by June 1.
MORTH had revised the motor TP rates by 5-10 percent for the current year (FY2022-23) and industry sources point out that for the new fiscal also the quantum of hikes will remain the same. However, general insurers demand larger hikes.
هذه القصة مأخوذة من طبعة March 27, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة March 27, 2023 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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