Rising death claims due to Covid-19 and a hike in reinsurance rates have pushed private insurers to hike premiums. However, LIC, the country’s largest insurer, will not be hiking premiums because of its wide policy base and higher bargaining power with reinsurers.Explained: Why term policy premium rates are rising from FY22
Rising death claims due to Covid-19 and a hike in reinsurance rates have pushed private insurers to hike premiums. However, LIC, the country’s largest insurer, will not be hiking premiums because of its wide policy base and higher bargaining power with reinsurers.
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