New Delhi, Mar29 (KNN) Rates for the third party insurance for private cars and vehicles for goods in the public carrier category will go up by 20 per cent with a cascading effect on the freight rates. The news rates will be applicable from April 1. The revision is across other categories of vehicles as well.
 
The public transporters’ association – All India Motor Transport Congress was quick to oppose the move by the Insurance Regulatory and Development Authority (IRDA) stating the regulator has “juggled” the figures. On the other hand, IRDA has stated that the rates finally notified are much lower than those proposed in a draft .  
 
The third party insurance rates for the private cars and good carrying vehicles (public carrier )  are up 20 per cent, two-wheelers – 18.30 per cent, goods carrying motorized three wheelers and motorized pedal cycles – public carriers- 20 per cent ( 9.90 per cent in the private category). KNN