 "insurance")
Non-life insurance companies are set to meet Department of Financial Services (DFS) Secretary M Nagaraju on May 7 to seek reduction in obligatory cession of business to state-owned GIC Re and revision in motor third-party (TP) premiums, among other things, sources aware of the development said.
The sources also indicated that industry executives were also likely to discuss growth trends of the general insurance industry over the years as well as initiatives by the General Insurance Council, including the common empanelment of hospitals and claims settlement experience of the insurers.
Cession is the portion of insurance premiums that insurers pass
