Towards increasing motor third party liability rates in India

The Ministry of Road Transport has suggested that Indian insurers increase motor third party liability (MTPL) rates for specific types of cars.

The decision, which is pending the approval of the IRDAI and relevant stakeholders, will come into effect on 1 April 2022.

Due to the pandemic, premium rates remained unchanged since 2019.

Note that the Indian government has provided a 15% discount on the insurance premium for owners of electric cars.