NON-TARIFF INSURANCE PREMIUMS TO COST MORE

Individuals will have to pay more for health, home, overseas travel and student medical insurance covers, while companies will see premium rates going up for marine, corporate and liability insurance. As per IRDA decision the insurance sector will shift to a detariff refine with effect from 1st January, 2007. This would mean that insurance companies shall be completely free to fix their insurance premium subject to market competitive force. This may put a lot of burden on common
man. Regulators can not be allowed to come under pressure of the lobby of insurance companies. The Insurance rates should be regulated if not controlled.