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Old 31st October 2011, 14:58   #1
Join Date: Jul 2005
Location: Hyderabad
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Default Auto insurance premia to go up?

The IRDA is contemplating scrapping the third party motor pool from which claims of all accident victims are settled, possibly doubling the insurance premium for millions of automobile buyers

What is 3rd party motor pool? A corpus of funds created by general insurance companies - has been opposed by private sector insurers, who allege they are being forced to contribute disproportionately to the corpus.

Source: IRDA may end third party insurance pool - The Economic Times
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