Hotel Association of India urges govt to bring down insurance premiums

The hotel association of India (HAI), the apex organization of the Indian hospitality industry, has written to the finance minister, Nirmala Sitharaman, highlighting the steep increase in insurance premiums for hotel properties in the last few years as several reinsurers, including state-owned General Insurance Corporation (GIC Re) have raised premium by nearly two and a half times they were in FY2018-19. In the letter, they have urged the government to bring down the insurance premium rates to the level they were in FY2018-19.

The association has alleged that insurance companies are not allowed to quote different rates to hotel properties