A strange little tale out of India as the insurance regulator decides that the price of motor insurance should rise by up to 50%. But they're not doing that yet:Regulator Irdai has proposed up to 50 per cent increase in insurance premium for cars, motor cycles as well commercial vehicles from April 1. However, there is no proposal to increase the third party motor insurance premium for small cars (up to 1,000 cc) from Rs 2,055 currently. That is, we will all be poorer as more resources are used to provide motor insurance than is necessary. Again, there are indeed things an insurance regulator can usefully do but price setting isn't one of them.

Source: Forbes March 05, 2017 08:59 UTC