Non-life insurers are facing a double whammy. While health claims due to coronavirus (Covid-19) are rising fast, the claims from motor segment have also picked up. Another big worry is hike in the third-party motor insurance premium — supposed to have kicked in from April 1 — that was put on hold by the Insurance Regulatory and Development Authority (Irdai). There is no clarity if the regulator will hike third-party rates this year. Insurers claim this may result in a negative impact on loss ratio for them in the motor segment.
Insurers receptive to covering chronic ailments, declare PEDs honestly
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