Car Insurance: Mandatory 3-year and 5-year Third-party Cover for Cars and two-wheelers?
The Supreme Court’s (SC) committee on road safety has asked IRDAI to offer mandatory three-year third-party (TP) insurance policy for cars and five-year policy for motorbikes at the time of sale and registration. It is due to concerns over poor compliance of obtaining mandatory TP cover that can result in accident victims ending up getting no financial aid. 
 
IRDAI had allowed insurance...
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