This means general insurers will have to take a hit on their profitability after providing higher capital for the third party motor portfolio.
This means a general insurer pays out a claim of Rs 140 as against a premium income of Rs 100, leading to big losses for the industry.
Not exact matches
This event is
meant for the
general public, patient organisations, regulators,
insurers and policy makers.
This
means that the
insurer agrees to continue paying benefits specified under the policy but to increase them in line with
general inflation.
A higher credit score
means you're less of a financial risk, but it also makes
insurers trust that you're more responsible in
general.
This
means the claims incurred are more than the premiums paid for such private
general insurers.
Agriculture Insurance Company of India Ltd (AIC) takes care of farm - related insurance needs while Export Credit Guarantee Corporation of India (ECGC) is
meant for export credit insurance support for Indian exporters.For private
general insurers, gross premium grew 25 % to Rs 5,651.70 crore in August, from Rs 4,523.8 crore in the same month a year earlier.
Each company uses a slightly different rating system, but the
general approach is that the more health risks you pose, the higher you will be rated, until you reach a critical risk level that
means you can only be insured through
insurers willing to cover a higher than average risk.