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05 May 2012
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Private general insurance company HDFC Ergo, in collaboration with the Delhi-based Ace Insurance Brokers, will provide a $15 million (Rs 67.5 crore) insurance cover to the Indian Grand Prix, which is being organised in the capital from the month end, the company said. |
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05 May 2012
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Pitching for simplification of investment procedures for NRIs, the UK-based conglomerate Hinduja Group's Chairman SP Hinduja has said that the Indians settled abroad should also be allowed to invest in the country through overseas corporate entities. |
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The report said that the additional provisioning in the motor TP pool coupled with high claims in the motor TP (third party) and health insurance would impact the underwriting performance in the interim. "We expect the industry's overall underwriting losses to exceed Rs 100 billion each in 2011-12 and 2012-13," Shanker said.
The report, however, said that despite a possible weakening in the underwriting performance in the interim, annual hike in premium rates would benefit the industry in the long-run.
"CRISIL expects the annual hike in premium rates for the motor TP (third party) segment to benefit the industry over the long term. Consequently, the underwriting losses in motor TP segment, which has the most adverse claims performance likely to reduce over time," the report said.
Motor TP, which accounts for about one third of the industry's total claims, has been hiked by five to eight percent for private vehicles and 10-30 percent for commercial vehicles from April, 2012. This was done by the regulator in a bid to meet the rising claims in this segment.
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