Insurance industry can risk-proof India
Source: Asia Insurance Review | Feb 2017
Geographic and climatic conditions of India make it highly prone to natural catastrophes. Insurance culture is yet to take root and its penetration is low. This, coupled with growing urbanisation and unplanned expansion, invariably leads to a big gap between economic and insured losses in catastrophic events. The insurance industry needs to work on a strategy to help build a better protected and more resilient Indian society.
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