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Two-wheeler insurance is a type of insurance that is mandatory in India. Falling under the General insurance product category, it helps protect people against accidents that take place on the road. Active two wheeler insurance shields the vehicle owner from any unforeseen occurrences like the accident or any serious damage to the motor vehicle.
In August 2016, a multi-year two-wheeler package policy was also launched by the company which eliminated the need of renewing two-wheeler insurance every year. [12] By the end of 2016, the company launched Health Connect Supra, a top-up and super top-up product offering Sum Insured till Rs. 1 crore. [13]
While the long-term insurance policy is 3 years for four-wheelers, it is 5 years for two-wheelers. The following guidelines are issued to implement the Supreme Court guidelines via a circular issued to insurers under Section 14(2) of the Insurance Regulatory and Development Agency of India Act, 1999, effective September 1, 2018. [7]
The two-wheeler insurance policy provides complete protection to two-wheelers and can be purchased online. It safeguards against any kind of damage incurred due to accidents or natural calamities. The policy cover is extended to any two-wheeler, its accessories, damages caused to third-party, and any injury to life.
In California, the state's largest auto insurance company, State Farm, has the smallest market share compared to any top insurer in other states, holding only 12.06% of the market in the Golden State.
Acko General Insurance is a private sector general insurance company in India. [ 1 ] [ 2 ] Founded in November 2016, the company received its license from the Insurance Regulatory and Development Authority of India (IRDAI) in September 2017.
[1] [2] [3] As of 2023, India is the 3rd largest automobile market in the world in terms of sales. [ 4 ] As of April 2022 [update] , India 's auto industry is worth more than US$100 billion and accounts for 8% of the country's total exports and 7.1% of India's GDP. [ 5 ]
India on Tuesday delayed the implementation of market share caps for a popular digital payments method by two years, a move that will benefit Google Pay and Walmart-backed PhonePe. According to ...