motor insurance

motor insurance News

‘Unfair market practices’ favour private players, say PSU insurers

The regulator has capped payments by insurers to agents and dealers at 19.5 per cent for cars and 22.5 per cent for two wheelers and brought them under its purview as motor insurance service providers from November 2017.

Long-term motor insurance: SC rejects insurers’ plea; buyers to shell out more from today

The GI Council also pointed that the entire industry is now busy settling claims on account of Kerala floods which has triggered claims worth over Rs 1000 crore.

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Motor insurance: Claim rejection remains a big worry; can be avoided with a little caution

However, while it is mandatory for all vehicles to be insured, claim rejection is one of the biggest issues faced by customers.

FinMin cancels Irda order withdrawing third-party pool

According to a top level source in one of the affected companies the new orders could come well after the elections are over.

Irda moves to break nexus between insurers,dealers

IRDA regulations say the agency commission for a motor business cannot exceed 5 per cent.

Find the right vehicle insurance to keep your finances running smooth

The Act prescribes fine/penalties/punishment for not having valid insurance for the vehicle.

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Economic slowdown,crashing auto sales force general insurance companies to focus on retail

Insurance industry also facing challenge of sustaining investment income due to RBI tightening.

Motor insurance premium to be costly by up to 20% from April 1

Motor insurance premium is set to become more expensive,with Irda allowing up to 20 per cent increase in third party rates from April 1 in view of rising inflation and the history of claim settlement

Insurance: Costlier cover

From this month,vehicle owners will have to pay more for third-party premium as the insurance regulator has hiked the rates after a year.

Motor,health insurance may cost more

Motor and health insurance may become expensive with the government suggesting that insurers should raise premiums to cover their losses.

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