Reinsurance in India
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Case Code: INS019 Case Length: 04 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
Caselet 01
The Premier Insurance Company in Ahmedabad, Gujarat deals with property liability insurance. The state remained the biggest liability for public sector non-life insurance companies in the country for the third consecutive year. The insurance companies in the state are supposed to cough up around Rs150 crore to settle insurance claims of the riot-affected business establishments. This follows just after the insurance companies had managed to settle claims worth Rs 600 crore as a result of the earthquake on January 26, 2001...
Caselet 02
The terrorist attack on WTC has thrown the insurance industry worldwide out of gear. As a majority of the reinsurers refused to cover risks associated with terrorist attacks, insurance players were clueless regarding how to react to this situation. And, with the liberalization of the Indian insurance sector, new private players had come into the field with limited capital.
As the reinsurers refused to provide cover for terrorist attacks, all the players in the insurance industry decided to come together to find a solution to the problem...
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