1273500- Akshay Mehta-f1- Rahul Arora-MBA f2>
http://youtu.be/whOqE8ADU2A
<1273500- Akshay Mehta,f1, Q-2-Rising cost of Insurance
INTRODUCTION
The Insurance premium rates have been increased after a gap of 5 years.The insurance regulator observed that "long intervals between rate revisions cast an avoidable strain on policyholders as well as on the insurance companies. Premiums need to be reviewed regularly depending upon the average claims which have been awarded by the various courts, frequency of claims for each class of vehicle and inflation amongst other factors
Discussion
The rise in costs is taking place because the central government is extending the service tax net to include insurance premiums. The government had announced its intention to do so in the last Budget. This means that even the premiums that you are paying on life insurance policies will increase, thereby placing a further burden on your finances. Giving in to the long pending demand of the general insurance companies, the Insurance Regulatory and Development Authority (IRDA) of India has hiked the third party motor insurance premium by 10-65% across private and commercial vehicles . The insurance regulator has also agreed to the industry demand of annual review of third party premium rates.
The premiums for private cars and two-wheelers have been increased by 10% while for commercial vehicle the hike is 65%.
Conclusion
Due to high Inflation in the country and also demand of insurance company IRDA has given permission to hike the rates of insurance policy. Further service tax levied by government has also put burden on policy holder
http://youtu.be/whOqE8ADU2A
<1273500- Akshay Mehta,f1, Q-2-Rising cost of Insurance
INTRODUCTION
The Insurance premium rates have been increased after a gap of 5 years.The insurance regulator observed that "long intervals between rate revisions cast an avoidable strain on policyholders as well as on the insurance companies. Premiums need to be reviewed regularly depending upon the average claims which have been awarded by the various courts, frequency of claims for each class of vehicle and inflation amongst other factors
Discussion
The rise in costs is taking place because the central government is extending the service tax net to include insurance premiums. The government had announced its intention to do so in the last Budget. This means that even the premiums that you are paying on life insurance policies will increase, thereby placing a further burden on your finances. Giving in to the long pending demand of the general insurance companies, the Insurance Regulatory and Development Authority (IRDA) of India has hiked the third party motor insurance premium by 10-65% across private and commercial vehicles . The insurance regulator has also agreed to the industry demand of annual review of third party premium rates.
The premiums for private cars and two-wheelers have been increased by 10% while for commercial vehicle the hike is 65%.
Conclusion
Due to high Inflation in the country and also demand of insurance company IRDA has given permission to hike the rates of insurance policy. Further service tax levied by government has also put burden on policy holder
Interviewee voice not audible????? Rahul lost 2 marks and Akshay one mark for video? Reasons known to both of you.... On Q2 Good Attempt!!!!!
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