In April 2007, Indian General insurance business was taken off the tariff, the price list for many types of General insurance which had been statutory for decades. Some tariffs were very high – for Fire insurance – for example. Others were too low – like Motor insurance, especially Motor Third Party Liability. This led to [...]

Even as disbelieving agents had little time to react to the Swarup Committee recommendation phasing out commissions, Mr S B Mathur, Secretary General, Life Insurance Council, said the, ‘The Report is Unfair’ and select data had been used to project a tarnished picture of the industry.