third-party insurance
Till a few years back, the own damage share in motor premium used to be 60 per cent and third party, 40 per cent. However, the share of third party (TP) premium has since gone up to 52.7 per cent in 2016-17, 55 per cent in 2017-18 and further up 59 per cent in 2018-19, data from the Insurance Regulatory and Development Authority of India (irdai) shows.
Share of third party cover rising in motor premia
09 Dec 2019 2:25 AM

Two-wheelers and private cars have a higher proportion of own damage in the motor premium.

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