The insurance regulator has invited responses to a proposal to increase the third-party motor insurance premium by 14% to 108%. However, industry observers believe that the hike will not be so steep. “Like last year, the hike will be moderated. It may not go beyond 20%,” said a senior executive of a private general insurance company.In February 2014, the Insurance Regulatory and Development Authority of India (IRDAI) had proposed an increase of 25-136% and 0.96-45% for private cars and twowhee┬а..
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