Friday, July 20th 2018

Car Insurance Premiums in India set to rise in 2012


Wednesday, December 28th, 2011
News

IRDA, India's Insurance Regulatory and Development Authority anticipates that car insurance premiums within the country are likely to rise between 20% and 70% for motor vehicles including trucks and bikes. With the introduction of risk based pricing which uses actuarial based determination prices are set to rise as the insurance system in India evolves.

 At the moment third party insurance runs at a loss and third party insurance is mandated for commercial vehicle owners. Insurers share these losses as determined by its market share as a general insurer,  in particular public sector insurers who provide it at a loss in contrast to private insurance who are reluctant to. These changes which will force up comprehensive insurance cover with prices moving according to the claims paid by the insurer. Within India many major state owned banks are the provider of insurance products.



Article by James Jones

The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com



Post a Comment

Comments:*


Name:*


Enter Verification Number:*


Give Your Opinion
What are the different types of JCB credit cards?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
What are the different types of JCB credit cards?
Financial Questions & Answers
Ask A Question
Get opinions on what you want to know:
Specific to any country?