Financial Daily from THE HINDU group of publications
Friday, Jul 15, 2005
Financial Daily from THE HINDU group of publications Friday, Jul 15, 2005 |
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Money & Banking
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General Insurance Move for `stand alone' health insurers hailed Our Bureau
Kochi , July 14 THE General Insurance Officers All India Association (GIOAIA) has welcomed the expert committee's recommendation for setting up exclusive `stand alone' health insurance companies. The introduction of stand alone health insurance companies would reduce the burden of the four public sector general insurance companies, Mr P.P. Mohanan, General Secretary of the Kerala chapter of the association. Now, only five per cent of the total health insurance portfolio is underwritten by the private insurers, leaving 95 per cent to the state-owned insurance companies. The claims ratio for health insurance is also substantially higher. Like motor cover, health insurance was also loss-making and so private insurers were not interested in this business, Mr Mohanan added.
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