Insurers see rise in health claims; lockdown reduces motor segment demands

Non-life insurers are seeing a rise in claims in the health segment but the own damage claims in the motor segment is on the decline because of the 21-day lockdown imposed to check the spread of Covid-19.
 

During the lockdown, very few vehicles are plying on the road, which means there will be less number of accidents resulting in lesser intimation of claims. Fewer claims are supposed to improve the insurers’ loss ratio in the motor segment, but the industry is divided on this.
 

Loss ratio indicates the underwriting performance of an insurer. If it is above 100 then premium