In the third-party liability premium of vehicle insurance, up to 50 percent hike has been proposed by the (IRDA) Insurance Regulatory and Development Authority of India. It is the result of its annual revision exercise for the insurance sector. In order to monitor the claims ratio, this step is extremely helpful.

The ratio of net claims per net premiums is defined as the claims ratio. Turns out, the present status of the insurance sector is not that great. The sector is paying more for the settlement of the third-party claims as compared to what it’s receiving from the premium of…

Vikas Singh Gusain

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