The growth of the general insurance industry suffers the absence of adequate insurance protection for many businesses. IRDAI can set up a mechanism to help settle quickly and fairly disputed claims of industries and businessmen. The general insurance premium income in India has been growing by leaps and bounds having touched
“The insurance sector was opened up in 2000. Even 18 years after, the industry has not recorded decent growth or penetrated deep, despite the big potential. A major reason was too much of regulation as in several other aspects of governance,” said R Thyagarajan (RT), Founder-Chairman of the Shriram Group.
The life insurer appears to be the government’s preferred white knight. LIC is exposed to a massive chunk of the system’s bad assets. If this doesn’t make it a choice for Asset Reconstruction Company, what will? The spurt of controversial moves continues unabated. In a new tale, the country’s largest insurer,
This second largest general insurance company has strong credentials to get the other two public sector GI companies merged with this. The 14-storey new building under construction is ready for this! Public sector General insurance companies have been bleeding due to continuing adverse claim ratios and intense competition resulting in rate