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Third Party Liability
May 23 , 2019
1885 days
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- Insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) proposed an increase in third party motor insurance premium rates for cars, two-wheelers and school buses to trucks.
- A motor policy has two main components
- Third-party liability
- Own damage
- The liabilities arising from damage caused to a third party are covered under third party-cover.
- It does not cover damage to the vehicle or its owner.
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