Liability Insurance comprises of Workmen’s compensation and Employers’ Liability, Public Liability, Products Liability and other Liability segments (excluding Motor Third Party Liability), Liability Insurance Premium has grown by 12.25% over the period 2011-12 to 2020-21.
Chart 4.8.1GDPI - Liability
Table 4.8.1Liability
| 2020-21 | Value |
| No. Of Policies | 761,893 |
| Premium (in Cr) | 3,017 |
| No. Of Claims Reported | 92,263 |
| No. Of Paid Claims | 63,591 |
| Amt of Paid Claims (in Cr) | 760 |
Source: Council Compilation as per source
data submitted by companies
Note: Detailed breakup of Liability Covers is not available.
The Net Incurred Claims Ratio has been in the ratio of almost 20-50% for most of the years in the observed period. Compared to the Gross Incurred Claims Ratio, the Net Incurred Claims Ratio graph has smoothened, thereby reflecting the effect of reinsurance, particularly in this line of business.
Chart 4.8.2Gross & Net Incurred Claims Ratio - Liability
Source: Council Compilation as per source
data submitted by companies
Chart 4.8.3Rural vs Urban Premium - Liability
Chart 4.8.4Channelwise GDPI - Liability
Source: Council Compilation as per source
data submitted by companies