IRDA and the Changing Tariff Structure for Motor Vehicle Insurance in India

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Case Details:

Case Code : INS012
Case Length : 03 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India

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"What happened to the new tariff structure proposal by the Insurance Regulatory and Development Authority of India (IRDA)?" asked Charles De Cunha, owner of a transport service. "It's been deferred for the moment," said Rao, friend of De Cunha. De Cunha's company rents vehicles like cars, jeeps, luxury buses and other commercial vehicles. The travel agency is located in Chennai, India. De Cunha recently discovered that IRDA was planning drastic changes in the proposed tariff structure for automobile insurance.

"Why has it been deferred?" asked De Cunha. "The IRDA has postponed it temporarily to bring in some more refinements," replied Rao. "Are you sure that the new proposal is going to come through?" asked De Cunha.

"I hope so," said Rao. He added that N.Rangachary, the Chairman, had revealed that IRDA was likely to announce the rationalized tariff structure for motor vehicles insurance by the middle of May. "Do you know anything more about the new tariff structure?" asked De Cunha. "Yes, the new tariff structure has been evolved by the Ansari Committee. It was actually supposed to be effective from April 1, but in order to bring in more refinements, IRDA postponed it," said Rao...

Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.