Hello sir I want to know about Third Party Premium of IRDA so here can you please give me its basic details ?

Hey as Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous apex statutory body which regulates and develops the insurance industry

Third Party Premium
Accordingly, the Authority issued an Exposure Draft no. IRDA/NL/MTP/2015-16/EXDRF dated 09th March 2015 on revision of premium rates for motor third party insurance covers for the year 2015-16

The Authority decided to moderate the rate increases in the following classes:

Private Cars
Two Wheelers - Exceeding 150 cc but not exceeding 350 cc
Goods Carrying Vehicles Public Carriers (Other than 3 wheelers) - Exceeding 20000 kgs but not exceeding 40000 kgs and Exceeding 40000 kgs
Goods Carrying Vehicles Private Carriers (Other than 3 wheelers) - Exceeding 40000 kgs
Four wheeled vehicles used for carrying passangers for hire or reward with carrying capacity not exceeding 6 passangers - Not exceeding 1000 cc and Exceeding 1500 cc
Three wheeled vehicles used for carrying passengers for hire or reward with carrying capacity not exceeding 6 passengers
Motorized three wheeled passenger vehicles used for carrying passengers for hire or reward with carrying capacity exceeding 6 passengers but not exceeding 17 passengers
Special Types of Vehicles

Effects of premium
Private Cars
Not exceeding 1000 cc 1468
Exceeding 1000 cc but not exceeding 1500 cc 1598
Exceeding 1500 cc 4931

IRDA Third Party Premium