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 15.10% over the period 2013- 14 to 2022-23.
Chart 4.8.1GDPI - Liability
Table 4.8.1Liability
| 2022-23 | Value |
| No. Of Policies | 25,01,705 |
| GDPI (in Cr) | 4,712 |
| No. Of Claims Reported | 1,31,426 |
| No. Of Paid Claims | 1,09,425 |
| Amt of Paid Claims (in Cr) | 1,137 |
Source: Council Compilation as per source
data submitted by companies
Note: Detailed breakup of Liability Covers is not available.
Both the GIC and the NIC ratios have increased in the current year to 39.74%, and 46.63% respectively.
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
Source: Council Compilation as per source
data submitted by companies