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Coimbatore, Dec 12

Link-K Insurance Broker Company (P) Ltd is gearing itself to face the changes in the detariffed scenario.

The Managing Director, Mr P. Mohankumar, told Business Line that he does not perceive any adverse impact on the future growth of the insurance sector after April 2008, when complete detariffing, encompassing terms, conditions and regulations, would become effective. "As of today, we are expecting the premium rates to be reduced by up to 20 per cent from the current tariff/guideline and additional features such as hydrant, partition walls, screen walls, fire proof doors, sprinklers, diversion systems, etc., could attract further discount if provided." He added that the company was negotiating with its customers to get the maximum discount.

Stating that insuring against fire was the most profitable portfolio for the general insurance companies, he said that the expected decline in the premium rate under such policies would be set off when cross-subsidisation takes place with marine or mediclaim policies.

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