Insurers Demanding More Hike in Third-Party Premium

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Industry demands higher third-party premiums to cover the losses. After raising the provisioning last year to 210%, the premiums should also be increased. According to industry officials, the hike of 10-15% in third-party insurance by the regulator is insufficient as it doesn't cover the losses. KG Krishnamoorthy Rao, the chief executive of Future Generali India Insurance told PTI that this hike is not enough and therefore the claim ration will remain in the range of 140-150% despite the hike.

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