{"id":286,"date":"2019-07-29T09:15:49","date_gmt":"2019-07-29T09:15:49","guid":{"rendered":"http:\/\/localhost\/yearbook\/?page_id=286"},"modified":"2022-01-28T08:16:22","modified_gmt":"2022-01-28T08:16:22","slug":"liability","status":"publish","type":"page","link":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/indian-non-life-insurance-industry-analysis\/section-04-segmentwise-business-highlights\/liability\/","title":{"rendered":"4.8 &#8211; Liability"},"content":{"rendered":"\n<p>Liability Insurance comprises of Workmen\u2019s compensation and Employers&#8217; 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.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<style>\n.highcharts-container{\nheight: 420px !important;\n}\n<\/style>\n<div class=\"wp-block-columns w-two-one\">\n\t<div class=\"wp-block-column_2\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.8.1<\/span>GDPI - Liability<\/h3><div id=\"Chart_193\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        column_chart(\"Chart_193\", {\"unit\":\"(\\u20b9 in Crores)\",\"data\":{\"Liability\":{\"2011-12\":1066,\"2012-13\":1163,\"2013-14\":1329,\"2014-15\":1328,\"2015-16\":1890,\"2016-17\":2039,\"2017-18\":1912,\"2018-19\":2318,\"2019-20\":2526,\"2020-21\":3017}},\"Title\":\"GDPI - Liability\",\"xTitle\":\"Year\",\"yTitle\":\"\\u20b9 in Crores\",\"xAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#c7955e\"]});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column_1\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Table 4.8.1<\/span>Liability<\/h3><table width=\"100%\" class=\"\">    <tbody>        <tr>                    <td>                        2020-21                    <\/td>                    <td>                        Value                    <\/td>        <\/tr>        <tr>                    <td>                            No. Of Policies                    <\/td>                    <td>                              761,893                     <\/td>        <\/tr>        <tr>                    <td>                            Premium (in Cr)                    <\/td>                    <td>                              3,017                     <\/td>        <\/tr>        <tr>                    <td>                            No. Of Claims Reported                    <\/td>                    <td>                              92,263                     <\/td>        <\/tr>        <tr>                    <td>                            No. Of Paid Claims                    <\/td>                    <td>                              63,591                     <\/td>        <\/tr>        <tr>                    <td>                            Amt of Paid Claims (in Cr)                    <\/td>                    <td>                              760                     <\/td>        <\/tr>    <\/tbody><\/table>\n                <span style=\"margin-left: 139px;font-size:13px\"> <i>Premium booked in India considered<\/i><\/span>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <em><br><strong>Note<\/strong>: Detailed breakup of Liability Covers is not available.<\/em><\/p>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><\/p><cite><br><br><\/cite><\/blockquote>\n\n\n\n<p>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. <\/p>\n\n\n\n<p><\/p>\n\n\n<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.8.2<\/span>Gross & Net Incurred Claims Ratio - Liability<\/h3><div id=\"Chart_194\" class=\"chart-div\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        multiline_chart(\"Chart_194\", {\"unit\":\"%\",\"data\":{\"Gross Incurred Claims Ratio\":{\"2011-12\":\"44.7\",\"2012-13\":\"40.2\",\"2013-14\":\"26.2\",\"2014-15\":\"24.3\",\"2015-16\":\"30.6\",\"2016-17\":\"27.6\",\"2017-18\":\"43.5\",\"2018-19\":\"47.3\",\"2019-20\":\"38.7\",\"2020-21\":\"43.8\"},\"Net Incurred Claims Ratio\":{\"2011-12\":\"34.6\",\"2012-13\":\"43.8\",\"2013-14\":\"30.2\",\"2014-15\":\"31.4\",\"2015-16\":\"40.1\",\"2016-17\":\"32.3\",\"2017-18\":\"20.4\",\"2018-19\":\"38.7\",\"2019-20\":\"51\",\"2020-21\":\"49.6\"}},\"Title\":\"Gross & Net Incurred Claims Ratio - Liability\",\"xTitle\":\"Year\",\"yTitle\":\"Claim Ratio (%)\",\"yAxisData\":{\"2011-12\":\"2011-12\",\"2012-13\":\"2012-13\",\"2013-14\":\"2013-14\",\"2014-15\":\"2014-15\",\"2015-16\":\"2015-16\",\"2016-17\":\"2016-17\",\"2017-18\":\"2017-18\",\"2018-19\":\"2018-19\",\"2019-20\":\"2019-20\",\"2020-21\":\"2020-21\"},\"colorCodes\":[\"#fed09a\",\"#c59566\"]});\n                    });\n                <\/script>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><div class=\"wp-block-columns has-2-columns\">\n\t<div class=\"wp-block-column\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.8.3<\/span>Rural vs Urban Premium - Liability<\/h3><div id=\"Chart_282\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_282\", {\"data\":{\"Rural Premium\":168,\"Urban Premium\":3000},\"Title\":\"\",\"SeriesTitle\":\"Rural vs Urban Premium - Liability\",\"colorCodes\":[\"#f0787e\",\"#f5a841\",\"#5ac5bc\",\"#ee65a3\",\"#f5e34b\",\"#88b3e0\",\"#a6cdee\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\t<\/div>\n\t<div class=\"wp-block-column\">\n\t\t<h3 class=\"section-title\" style=\"font-size: 17px;\"><span style=\"background: #9bcd5e;border-radius: 8px;color: #fff;padding: 5px;font-size: 14px; margin-right: 10px;\"> Chart 4.8.4<\/span>Channelwise GDPI - Liability<\/h3><div id=\"Chart_283\"><\/div><script type=\"text\/javascript\">\n                    jQuery(document).ready(function () {\n                        pie_chart(\"Chart_283\", {\"data\":{\"Individual Agents\":595,\"Corporate Agents-Bank\":18,\"Corporate Agents- Others\":11,\"Brokers\":1799,\"Direct Business- Internet\":33,\"Direct Business- Other than internet\":552,\"Others\":10},\"Title\":\"\",\"SeriesTitle\":\"Channelwise GDPI - Liability\",\"colorCodes\":[\"#f0787e\",\"#f5a841\",\"#5ac5bc\",\"#ee65a3\",\"#f5e34b\",\"#88b3e0\",\"#a6cdee\"],\"dataLabelsFlag\":\"yes\"});\n                    });\n                <\/script>\n\t<\/div>\n<\/div><\/p>\n\n\n\n<p class=\"has-text-align-right has-small-font-size\"><em><strong>Source<\/strong>: <\/em> <em>Council Compilation<\/em>&nbsp;<em>as per source<br>data submitted by companies<\/em> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Liability Insurance comprises of Workmen\u2019s compensation and Employers&#8217; Liability, Public Liability, Products Liability and other Liability segments (excluding Motor Third [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":272,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"page-templates\/full-width.php","meta":[],"_links":{"self":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/286"}],"collection":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/comments?post=286"}],"version-history":[{"count":23,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/286\/revisions"}],"predecessor-version":[{"id":2519,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/286\/revisions\/2519"}],"up":[{"embeddable":true,"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/pages\/272"}],"wp:attachment":[{"href":"https:\/\/www.gicouncil.in\/yearbook\/2020-21\/wp-json\/wp\/v2\/media?parent=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}