Ever since the Motor Vehicles Act made it mandatory for car owners to have a motor insurance policy, Insurers have provided a diverse range of motor insurance products that protect the insured from the financial jolt that follows in cases of ...
The Union Road Transport Ministry has put a proposal for increasing motor insurance premium for various vehicle categories from next fiscal. This shall hence lift insurance costs for two-wheelers as well as four-wheelers. In consultation with the insurance regulator, ...
For violating some motor insurance norms, regulator IRDAI fined four insurers a total of Rs 51 lakh, including SBI General Insurance Company. IRDAI charged SBI General Insurance Company with failing to meet its MTP Obligation for the financial year 2017-18, as ...
The Ministry of Road Transport & Highways has issued a draft notification to make FASTag mandatory for old vehicles sold before 1 December 2017. It has also proposed making FASTag mandatory to buy a new third party motor vehicle insurance. If ...
Well as is the case majority of the Indian workforce given the current pandemic crisis is still working from home plus unnecessary travel is also being avoided, so there could be a high possibility that you considering minimal usage of your ...
From 1 August 2020, as per IRDAI's (Insurance Regulatory and Development Authority of India) mandate, long term motor insurance packages that cover both third-party damage and own damages, for 3 years on cars and 5 years for two-wheelers, will be withdrawn. ...
Even though third-party cover is a mandatory for motor vehicle owners, the compliance to the mandate is low. And for own damage cover the penetration as well as purchase is even lower. And to find a solution to this problem, the ...
Beginning August 1, 2020, IRDAI said it will took off the shelf its long term motor insurance policy i.e. for a term of 3 years for 4-wheelers and 5 years for 2-wheelers. This is the comprehensive cover which included both third-party ...
Recently, two separate cyclones-Amphan and Nisarga-hit the east and west coast of India, respectively. These strong winds caused destruction to property and in some places, loss of life. Cars and bikes were damaged due to uprooted trees or by submerging in ...
Due to the COVID-19 induced lockdown, there has been a sharp fall in the number of claims made to general insurance companies in relation to motor vehicle damages, as policyholders stayed off roads. In the 60 days of complete lockdown across ...
To simplify health insurance, the government last year took initiative and announced that all health and general insurers should work to come up with a standardized plan such that buyers no longer face the hardship in selecting the relevant plan. Such ...