Automobile insurance is likely to get cheaper once the regulatory authority IRDA puts in place its detariffing structure. | |
| Similarly, Mediclaim policies are likely to be dearer, feels the business head of (commercial insurance) of HDFC Chubb General Insurance, K V Prasad. |
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| Commenting on the post detariffing scenario in general insurance industry at a meeting here today, Prasad said that car owners with good maintenance and driving track record were likely to be immensely benefited from this. |
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| "The owner of a car who drives himself will be the biggest beneficiary. The car which is operated by both the owner and driver will be at a slightly higher risk category. On the other hand there will be factoring for the commercial vehicles," he said. |
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| Prasad was participating in a workshop on risk management organised by the city-based by Heritage Insurance Solutions. |
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| Prasad said he was confident that medical insurance could be slightly dearer than what it presently. |
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| "The whole dynamics of the industry will change after the detariffing. Some will gain and some will lose," he added. |
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| However, he refused to comment on the strategy of HDFC Chubb on post detariffing scenario or on future strategy of the company. |
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| Sources in the insurance sector told Business Standard that private sector companies were expecting around Rs 150 crore premium income each in 2004-05. |
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