December 12: Insurance Board has cut insurance premium rate of car by 30 per cent. The IB cut the insurance premium rate by 30 per cent of the prevailing premium rate under the Motor Insurance rate Directive, 2073. The board has also set new premium to be effective from December 16.
"Car owners will be benefited by the reduced insurance premium rate on demolishment and tearing off of vehicles and the insurance rate will increase as well," said Pujan Dhungel, Information Officer of IB.
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