IRDA on Friday set up a committee to look into issues related to third party insurance cover for motor vehicles. The IRDA constituted a committee under chairmanship of Mr M. Ramaprasad, member (non-life) and 12 other members, including representatives from non-life insurance industry. A third party insurance is a policy under which the insurance company provides cover for motor vehicles for injuries or damage done to a third party. “Offering motor third party liability cover to commercial vehicles has been a challenge for non-life insurers,” IRDA said in a statement.