Change in the air

Tuesday 27, September, 2005 IRDA?s recent announcement on detarffing has created great excitement in the Non-Life market. People in the know have been touting of the benefits of detariffing for a very long time. The most common reason provided was the reduction in costs for both the common customer & the insurers as well. Industry sources say that while general insurance might see a 20 % drop in premia, health & motor segments will see a drop of around 10 to 30%. It is important to note here that Motor tariffs might not yet be de-tariffed along with the others. Motor insurance constitutes upto 40 percent of general insurance in the country today.

[ Back to News Room ]

Back to Top^