The Insurance Regulatory and Development Authority of India (Irdai) has reduced the premium rates for motor third-party (TP) insurance covers for 2018-19. Irdai had issued a circular on March 28 where it stated that the rates will be effective from April 1, 2018.

The regulator has lowered the premium for third-party insurance, which is mandatory for cars with engine capacity of less than 1,000 cc to Rs 1,850 from the existing Rs 2,055. There has been no change in the existing rate for c ..

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