Third party motor insurance premium may rise further

George Mathew : Mumbai, Wed Feb 06 2013, 09:29 hrs

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After the negotiations with the transporters, IRDA had incorporated an automatic provision in the order on premium revision based on a formula that was implemented from April 1, 2012. At current levels, the premium is well below the break-even level for the portfolio, the industry has accepted the revisions with the expectation that the IRDA would review the position.

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