India's insurance gap widens despite deeper penetration, says study

Global insurance gap, or under-insurance narrowed by 3% the past six years, with growing incidence of new risks related to climate change and cyber world

Insurance penetration has improved globally during the past six years, and with the growing incidence of new risks related to climate change and the cyber world, the insurance gap has decreased, finds a study by Lloyd’s of London.

 

Global ‘under-insurance’ or ‘insurance gap’ stands at $162.5 billion as of 2018 as against $168 billion in 2012, which is a reduction of 3 per cent over the last six years.

 

While the insurance