MTP is Motor Third Party
TP is Third Party
Liability insurance purchased by an insured (the first party) from an insurer (the second party) for protection against the claims of another (the third) party.
The first party is responsible for its own damages or losses whether caused by itself or the third party.
Mam, the meaning of the MTP and TP premium in the news item “court refuses to extend motor insurance deadline” is not clear.
MTP is Motor Third Party
TP is Third Party
Liability insurance purchased by an insured (the first party) from an insurer (the second party) for protection against the claims of another (the third) party.
The first party is responsible for its own damages or losses whether caused by itself or the third party.