Page 2 - Motor Insurance

How withdrawal of long-term motor cover will benefit the consumers

Older policies of three and five years will continue till expiry

Motor segment drives the fall in premiums for non-life insurers

Retail health has shown a growth of 25% due to covid

Covid-19 impact: Motor, health segments see decline in March premiums

The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.

Motor, health segments see substantial fall in March for non-life insurers

Motor segment saw a 7 per cent decline in premiums, while health registered an 11 per cent decline in premiums

Link motor third-party obligation to number of uninsured vehicles: Irdai

Currently, the motor third party obligation is based on the amount of premiums an insurer collects on any given year out of motor third party business.

Lockdown 2.0: Govt extends renewal of health, motor policies till May 15

If the renewal of motor third party and health policy falls due between March 25 and May 3, the lockdown period, then policyholders can make the renewal payment on or before May 15

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Business Standard brings you top headlines of the day

Insurers see rise in health claims; lockdown reduces motor segment demands

Fewer claims are supposed to improve the insurers' loss ratio in the motor segment, but the industry is divided on this

Hike in third-party motor insurance premiums not enough, say experts

With auto industry struggling, non-life insurance firms seeing muted growth

Irdai proposes to make calculation of motor cover simpler, more transparent

Customers will not have to buy add-ons like invoice cover in the new regime

Insurance companies report boom in business after new, strict traffic rules

Insurance companies expect the new regulations to bridge the gap between insured and un-insured vehicles significantly

Sitharaman's sops likely to spur motor insurance companies' growth

The enhanced depreciation is expected to motivate vehicle makers

Slowdown in auto industry casts shadow on motor insurance segment

In FY19, the motor insurance segment saw 9 per cent growth, with premium collection at Rs 64,000 crore against Rs 59,000 crore in FY18

Hike in third party motor premiums will only cover inflation cost: Insurers

The insurance regulator has proposed a hike in the third party insurance premium of cars, two wheelers, and transport vehicles

In a blow to car owners, motor insurance to become expensive from Sept 1

Insurers are still seeking clarity if new rules on third-party insurance will apply to existing vehicle owners

Readers' Corner: Will your motor insurance be valid anywhere in India?

If yes, will there be a change in the premium and coverage benefits?

Buy comprehensive motor insurance cover to guard against natural calamities

If a tree falls on your car or it's damaged in flood, the insurer will compensate only if you have a comprehensive cover with suitable add-ons

Get a third-party cover at the very least if your vehicle is uninsured

A report by the General Insurance Council of India says that approximately 60 per cent of automobiles in India are uninsured

Motor Vehicles Act: Steep fines make insurance important

Expect premiums to go up or introduction of a co-pay option for third-party damage

Motor insurance to have more touch-points

IRDAI may relax of norms to enable distribution of simple policies such as Third Party through agencies such as Pollution Check Centres