Insurers may have to bring in differential pricing on insurance premiums in India as there have been an increase in claims, especially from low-lying areas in the eastern part of India which have been deluged by cyclones over the past three consecutive years.
At present, insurers charge one common premium for risks across the country. However, with three years of consecutive claims from cyclones in Andhra Pradesh, Orissa and Tamil Naidu, insurance companies are looking at increasing ..