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The exposure draft, if implemented, will be draconian to the insurance industry for various reasons. Persistency levels will fall, and margins from non-participating products will fall impacting profitability. Policyholders would be incentivised to surrender their policies and buy another policy thereby impacting persistency of the business. (Representational Image Source: picpedia.org)

Simplify terms and conditions in insurance policies to reduce...

New Delhi: Insurance companies need to draft the terms and conditions of the policy in a language that is simple and...

11 Nov 2024 4:21 PM IST