Hike in Group Health Insurance and Cyber Insurance Premiums

Indian insurers have started the new financial year with a sharp rise in insurance premiums among various categories. Insurance companies increased the insurance premium amount of group health insurance by 40% along with an 80-100% hike in the premium of cyber insurance.

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As per Ms. Supriya Rathi, the director of Anand Rathi Insurance Broker, the renewal insurance premiums for cyber insurance have gone up by 80-100% because of the rising cyber-attacks during the COVID-19 pandemic.

Furthermore, she added that they are also working with the leading manufacturing companies that are offering cyber-crime insurance premiums. She also said that a 40% premium hike in group health insurance is due to the higher claim rate during the COVID-19 Pandemic.

Gallagher Insurance Brokers which is an India-based company, the chairman of this company Mr. Devesh Srivastava said that the aviation business is facing delays at present due to major raised claims on leased aircraft. However, its impact is not meant to be significant.

Putting forth his expectation, he added that the effect of the hike in premium that took place after 2 long years will prevail for some time. The reason is that the record levels of this pandemic loss during the last three-four years are already very high.

Foreign Reinsurance Branch (FRB), Senior Executive said that the revised hike in premiums across general insurance, including both property engineering and third-party motor insurance will be effective from 1st April 2022.

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Policybazaar for Business - Group Health Insurance - Customer Reviews

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4.4

out of 5

Based on 189 reviews

38 users

136 users

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3.8 April 09, 2023

Mansi

Excellent Support

It was easy to buy insurance from PolicyBazaar website and customer support was also amazing to clear all the doubts.Thankyou. Highly worth it.

Dehradun

4.3 April 01, 2023

Mahesh

Necessary Investment

It is a good and necessary investment. Thanks PB.

Lucknow

4.3 March 24, 2023

Surya

Provides Satisfactory Results

I purchased Group health insurance at policybazaar recently and i am so much satisfied with the plan. The application process was smooth and efficient, making the typically tedious task of getting insurance surprisingly hassle-free.Thanks PB.

Bareilly

3.8 March 16, 2023

Naveen

Helpful In Making Decisions

When it came to selcting the right Group Health Insurance, Policybazaar offered an impressive range of options from reputable insurers. I appreciated the comprehensive details avalable for each policy which helped me to take the better decisions. Thankyou.

Delhi

4.3 March 15, 2023

Rajesh

Increases Clients Expectations

I recently had the pleasure of securing a Group Health Insurance policy throug PolicyBazaar and I must say the Entire process exceeded my expectations! From start to finish, their service werw great. Thankyou.

Delhi

3.8 March 02, 2023

Ravi

Great Experience

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Pune

4.3 February 17, 2023

Diljeet

Excellent Purchase

It was a excellent purchase at PolicyBazaaar. Thankyou team.

Coimbatore

4.3 February 04, 2023

Satya

Prompt Services

Policybazaar's efficient claims process was impressive. In case of any medical emergencies, my employees were able to get their claims settled swiftly, allowing them to focus on their health and recovery without worrying about financial aspects.Thankyou

Chennai

4.3 January 22, 2023

Abhishek

Budget Friendly Purchase

Thankyou PolicyBazaar for providing such a great plan at affordable premium rates. It was a budget-freindly purchase.

Delhi

4.3 January 09, 2023

Abhash

Multiple Range Of Benefits

I purchased Group health Insurance which offered me plans with affordable rates Thankyou PB.

Pune

189 Review Item

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