First, we need to have premiums for catastrophe events, like what they have in the developed countries. Although fire insurance covers accidents and floods, earthquake cover is optional.
K G Krishnamoorthy Rao, managing director and CEO, Future Generali India Insurance, answers insurance queries.
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'It is important to ensure that the person driving the car has a valid driving licence, is in a stable mental condition and is not under any heavy medication or influence of alcohol,' says K G Krishnamoorthy Rao, MD and CEO, Future Generali India Insurance.
Irdai's push will make insurance cheaper for consumers and enable a consolidated view of all policies.
The biggest surprise for customers, at the time of claiming, is the fact that they will get only depreciated value of the product.
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