Reduction in motor TPL premiums in India

The Indian Regulatory and Development Authority of India (IRDAI) has just revised the motor third party liability premium rates for certain categories of vehicles.

For private vehicles, premium rates will be decreased by 10% while those of two-wheelers will be reduced by 25%. The new motor TPL pricing will come into effect on April 1, 2019.

It should be noted that goods transport vehicles could experience a 20% to 30% increase in their premium rates.

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