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Report of the Working Group (WG) to revisit the IRDAI (Obligation of Insurer in
respect of Motor Third Party Insurance business) Regulations, 2015
* MTP Obligations in each category for the 1st year (say for the FY 2020-21): Since
obligations in terms of number of policies for the (n-1)th financial year (i.e in
this case 2019-20) are not available, the actual MTP policies of the (n-2)th
financial year may be considered for calculating the MTP obligations for the year
2020-21.
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i) Two-wheelers,
iii) Others
C. For long term policies, the Insurers may take credit for
ii) three years for private cars depending on the remaining term of the
policy for which it is in force.
E. A Motor third Party Credit system in lines with the Carbon credit system may
be introduced for the first two years.
4. All the stakeholders are requested to provide their feedback in the below
format vide e-mail to janita@irdai.gov.in with a copy marked to
sagar.bangal@irdai.gov.in latest by 8th May, 2020.