IRDAI proposes 18% motor third-party premium hike after four-year freeze: Sources
The Insurance Regulatory and Development Authority of India (IRDAI) has proposed an average 18 per cent increase in motor third-party (TP) insurance premiums, potentially ending a four-year freeze in rates. For at least one category of vehicles, a steeper hike between 20 and 25 per cent has also been recommended. The proposal is currently under…