IRDA member decries low penetration of general insurance

The low penetration of general insurance companies is a major concern, said M Ramaprasad, member, Insurance Regulatory and Development Authority.

Speaking at a meeting organised by the National Insurance Academy, Pune, he said the non-life penetration was 0.7 per cent of the gross domestic product, a very low number. “The stagnant rate of penetration in non-life insurance is an issue,” he said. Read more

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Evolution of health insurance in India towards healthy ‘Health Insurance’

Insurance is a mechanism by which the losses of a few are met through contributions from many.  It is a method of dealing with fortuitous events resulting in a financial loss. Read more