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Stay on hike in third party insurance premium
Kochi: The Kerala High Court on Tuesday stayed the increase in third-party insurance premium for all vehicles. The stay was issued on a writ petition filed by the Kerala State Private Bus Operators' Federation and others against raising the premiums for buses from 65% to 70%. It was on April 15 that the Insurance Regulatory and Development Authority (IRDA) issued on order raising the premium amount. The petitioners alleged that the insurance company is taking an unanimous deciding without consulting others.
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Posted on: 11 May 2011
Kochi: The Kerala High Court on Tuesday stayed the increase in third-party insurance premium for all vehicles. The stay was issued on a writ petition filed by the Kerala State Private Bus Operators' Federation and others against raising the premiums for buses from 65% to 70%. It was on April 15 that the Insurance Regulatory and Development Authority (IRDA) issued on order raising the premium amount. The petitioners alleged that the insurance company is taking an unanimous deciding without consulting others.
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