Insurance News: Fire losses account for half of non-life insurance claims in FY12

Fire losses accounted for over half of the claims lodged with general insurance companies in 2011-12. According to Insurance  Regulatory and Development Authority (IRDA) data, compiled by insurance broking house India Insure, engineering-related  issues such as machine failure constituted another 16.8 per cent of the claims and marine claims accounted for 14.1 per cent. Read more