India Aligns Insured Declared Value Calculation with IRDAI Norms
1 report, 1 independent
Updated Thu 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
The Insured Declared Value (IDV) calculation in India is now aligned with regulatory norms established by the Insurance Regulatory and Development Authority of India (IRDAI). IDV determines the maximum amount an insurer will pay if a vehicle is stolen or written off.
From zigwheels.com
Why it matters
IDV is a formula-driven number that sets the ceiling on what an insurer pays for severe damage. This value is determined by subtracting age-based depreciation from the manufacturer's listed selling price under IRDAI norms.
From zigwheels.com
Who's involved
- IDVThe subject of the regulatory change, Insured Declared Value.
- VanguardManufacturer of photo, video, camera accessories.
- South African National Defence ForceMilitary forces of the South African Government.
- South African Air ForceAir warfare branch of the Republic of South Africa's armed forces.
- NasdaqAmerican fully electronic stock exchange.
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The entities involved
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IDV
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