Irda moves to break nexus between insurers, dealers

Dec 09 2013, 09:07 IST
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IRDA regulations say the agency commission for a motor business cannot exceed 5 per cent. IRDA regulations say the agency commission for a motor business cannot exceed 5 per cent.
SummaryIRDA regulations say the agency commission for a motor business cannot exceed 5 per cent.

car insurance is the most sought after and even more so in an economy where growth has dipped.

Interestingly, at the same meeting the industry will also discuss the issue of raising the premium on motor insurance because of the recent hike in provisioning on third party motor insurance from 110 per cent to 210 per cent by the regulator.

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