Current Affairs Government Schemes

IRDAI Forms Panel To Review 3rd Party Motor Cover Costs

Category : Government Schemes

 Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 16-member committee to examine motor third party insurance pricing aspects and make recommendations on the premium rates for 2019-20. IRDAI Member P.J. Joseph has been appointed as the Chairman of the committee. This is for the first time IRDAI has formed such a committee. The committee has also been tasked to revisit the classification of vehicles, in view of the development in the industry. 
Source- The Hindu


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