Kathmandu. In India, 3 years insurance cover of cars and 5 years of two-wheelers has been proposed. <\/p>\n
The Insurance Regulatory and Development Authority (IRDAI) has put forward such a proposal. The main objective of increasing vehicle coverage is to increase the spread of insurance in India and achieve the goal of ‘Insurance for All’ by 2047. <\/p>\n
IRDAI on Wednesday released a draft for long-term insurance cover. It talks about the insurance policy of ‘Long Term Motor Product’ cover that provides the cover of both third party insurance and self-harm insurance. According to IRDAI, the opinion of the stakeholders will be sought for the time being. <\/p>\n
In the draft, all non-life insurance companies have been proposed three years insurance coverage in case of private cars and five years in case of two-wheelers. Premium insurance for the full duration of policy coverage will have to be taken at the time of sale. <\/p>\n
In the past, IRDAI has been pushing for long-term insurance policies for new cars and two-wheelers several times in 2018 and beyond. In 2019, IRDAI withdrew from the case. At that time, there was a situation of lockdown due to corona epidemic. However, the insurance regulator had argued that there would be no problem in implementing this policy.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. In India, 3 years insurance cover of cars and 5 years of two-wheelers has been proposed. The Insurance Regulatory and Development Authority (IRDAI) has put forward such a proposal. The main objective of increasing vehicle coverage is to increase the spread of insurance in India and achieve the goal of ‘Insurance for All’ by […]<\/p>\n","protected":false},"author":16,"featured_media":215181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-253523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/253523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=253523"}],"version-history":[{"count":0,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/253523\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/215181"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=253523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=253523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=253523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}