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Insurance firms increase rates after GIC Re policy change, says report

Updated : April 22, 2019 10:50 AM IST

The rule now forces domestic insurers to make higher provisions for their risks which in turn is going to hurt their profits.
GIC Re has written to 34 insurance companies, saying that the pricing of fire risks in every category of industry needs to be raised.
Insurance firms increase rates after GIC Re policy change, says report

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