India Inc insurance renewals see huge discounts again

Contrary to expectations, India Inc has once again been overloaded with high discounts by the 23 domestic general insurers who have renewed their majority of business on the first day of the fiscal. Almost majority of Rs 30,000 crore general insurance business get renewed on April 1. Though the general insurers act of providing hefty discounts to the corporate, since the price controls were removed from premium pricing two years back was not new, it was expected that the trend would change from this year, as the general insurance industry had witnessed too much unhealthy competition affecting their bottomlines. While ...

More...