10/08/2022
The Comptroller and Auditor General of India (CAG) said in the report that the Finance Ministry laid down (in September 2012/May 2013) guidelines for the underwriting of group policies as per which the combined ratio of standalone group policies shall not exceed 95% and for group policies involving cross-subsidy, the combined ratio shall not exceed 100%.
“Audit noticed that the Ministry guidelines were not complied with by the PSU insurers and the combined ratio of group health insurance segment as reported by PSU insurers ranged from 125–165%,” it said. Courtesy: The Hindu