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Oct 8 2010 12:48PM
Insurance premium rates on the rise

Premium rates for general insurance lines of business may have stabilized in the international markets across Europe, the Middle East and Africa (EMEA), but in India, they are on the rise. While rates in EMEA are stabilizing on account of greater competition among established companies as well as due to entry of new ones, insurance premium rates in India continue to increase across sectors like employees liability, property covers, motor, trade credit and directors’ and officers’ liability. Interestingly, rates for professional indemnity cover have declined and there has been no change in healthcare, environmental and casualty lines of business, according to a study done by broking firm Marsh Inc. Commenting on the Marsh report, Sanjay Kedia, country head & CEO, Marsh India, said: “While some sectors in India are still reporting an upward trend, there are strong signs of rates stabilizing or even reducing across certain sectors. In the absence of any significant losses, we expect that the most competitive lines of business in India will remain unchanged for the remainder of 2010.”
 
 
 
 
 
 
 
 
 
     
 
     
 
 
 
 
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