2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which institute forms Panel To Review 3rd Party Motor Cover Costs?
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IRDAI
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BSNL
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NTPC
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IRCTC
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Explanation:
Detailed explanation-1: -The IRDAI makes annual reviews of the third party premium.
Detailed explanation-2: -Yes, third party motor insurance is mandatory for two-wheelers and four-wheelers in the country. This mandate has been set by The Motor Vehicles Act, 1988.
Detailed explanation-3: -Note that a 5 year cover is mandatory only for third-party (TP) bike insurance policies. Having third-party insurance is anyway compulsory for all vehicles as per the Motor Vehicles Act, 1988.
Detailed explanation-4: -For those between 1,000 cc and 1,500 cc, the premium will be Rs 10,640 and for those above 1,500 cc, the premium will be Rs 24,596.
There is 1 question to complete.