Mandatory third party insurance for vehicles to benefit consumers, insurers: Experts

The new guideline will contribute to higher premium income for the companies selling motor insurance. However, chinks remain as customers will be bound to make long term premium without the freedom of choice to make a switch from one insurer to another, said an industry official on the condition of anonymity.

Mandatory third party insurance for vehicles to benefit
Even as customers buying cars and two-wheelers post September 1 need to shell out more as premium with Irdai making long-term third party insurance mandatory, Image source:Pixabay

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