 "insurance")
A working group of the insurance regulator, IRDAI, has recommended that motor third party obligation of non-life insurers be linked to the number of vehicles insured or uninsured instead of the premium derived from the segment.
“Motor third party insurance being an integral part of every individual vehicle, the monitoring of insurance of such vehicles (by every insurer) most appropriately should be on the basis of count of such insured vehicles rather than (indirect/derivative) evaluation of premium derived out of insurance of such vehicles”, the working group said in its report.
Currently, the motor third party obligation is based on
