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IRDA slashes third party premium

NEW DELHI: The Insurance Regulatory and Development Authority (IRDA) on Tuesday announced a partial roll back of the hefty increase in third party motor premium on heavy vehicles from January 1. The IRDA had reduced the premium in the case of heavy vehicles by 70 per cent in the range of Rs. 5,000-6,800. The premiums for other segments like passenger cars and two wheelers remain unchanged.

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