Monday, 28 May 2012

India Travel cover premium probable to increase

India Travel -The rupee's fall has place pressure on the travel insurance portfolios of leading general insurance players and that they are seemingly to travel to sector regulator - Insurance Regulatory Development Authority (Irda) - to refile and restructure the premium charges of their product soon.

The claims for outbound travel insurance are paid by general insurance corporations in foreign currencies, whereas they collect the premium in rupees in India. General insurers are feeling the warmth as rupee has currently fallen quite five-hitter this year against the greenback, creating it the worst-performing Asian currency.

According to Sanjay Datta, head (underwritings and claims), ICICI Lombard, the final insurance large is stressed and is probably going to approach the regulator to possess a relook at policy rates. "The rupee fluctuation has been a matter of concern for us as way as travel portfolio worries. likely, we are going to approach Irda to hike premium charges soon," he said.Then more detail about tour visit India Tours.

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