IRDAI mulls allowing long-term motor own damage, fire insurance

IRDAI mulls allowing long-term motor own damage, fire insurance: https://www.thehindubusinessline.com/money-and-banking/irdai-mulls-allowing-long-term-motor-own-damage-fire-insurance/article66237535.ece

For a wider choice, the the regulator has proposed to permit a 3-year insurance for private cars and 5-year cover in the case of two-wheelers coterminous with motor third-party liability cover

The Insurance Regulatory and Development Authority of India (IRDAI) is planning to allow all general insurers to offer long-term motor products covering both mandatory motor third-party and own-damage cover.

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