Motor insurers seek risk-based third-party pricing: driver impact

Insurance industry representatives have asked IRDAI to consider risk-based third-party premiums, changes to knock-for-knock…

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MOTOR INSURANCE Insurers seek risk-based TP pricing Industry representatives want changes to third-party premiums and claims rules; IRDAI has not made them final.
WHAT IS PROPOSED Risk-based third-party premiums Future quotes could vary more by vehicle, use or assessed risk, but no lower premium is guaranteed.
CLAIMS CHANGE Knock-for-knock may be reworked A reported alternative would involve the at-fault driver's third-party cover in vehicle-damage claims.
WHAT CHANGES NOW No immediate policy change 25 OCT IRDAI's consultation remains open for stakeholder comments until 25 October 2026.
READ THE FULL STORY What drivers should check Understand the proposal-stage status before your next renewal or claim.
READ THE FULL STORY Get the full breakdown Sources, numbers and what to watch next.