All General Insurers, Sub: Indian Motor Third Party Insurance Pool – Administration Fees
Reference is drawn to para 8 of the Direction of the Authority no. 035/IRDA/Motor-TP/Dec-06 dated 4 th December 2006, wherein it is directed that the GIC, as pool administrator shall be paid a fee of 2.5% of the total premium on motor third party insurance business in respect of the business underwritten for the pooled account. The Authority after consultation with the Committee constituted under Section 110G of the Insurance Act, hereby directs that with effect from 1 st April 2009, the fee payable under para 8 of the direction no. 035/IRDA/Motor-TP/Dec-06 dated 4 th December 2006 shall be 1.25% of the total premium on motor third party insurance business in respect of the business underwritten for the pooled account. The other terms and conditions of the said direction remain unaltered.
1. General Insurance Corporation of India
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