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IRDAI’s Standardised Travel Insurance Plan May Help Increase Adoption
Travel plans with standard features and wordings will boost penetration, insurers say.
06 Jan 2021, 09:48 AM IST
The insurance regulator has proposed a standard travel insurance policy with common coverage and policy wording across the industry to increase its adoption.Such products will have the same features, benefits, inclusions, and exclusions, according to draft guidelines issued by the Insurance Regulatory and Development Authority of India, although prices, service levels and claim settlement rates may differ.At present, companies includ...
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