INDIA: Regulators To Take Action Against Insurers Engaged In Cut-throat Pricing

The insurance regulatory development authority (IRDA) of India have issued strong warnings to health insurance underwriters not to indulge in predatory pricing which would harm the industry and policy holders and make business unviable.

According to Subhash Chandra Khunita, the health insurance landscape is huge enough for everyone to play by the rules and make significant impact for both investors and policy holders.

According to him, a situation where underwriters engage in unethical practices and cut-throat pricing just to edge-out competitors will no longer be tolerated by the regulatory authority. Any underwriter caught engaging in predatory pricing will be sanctioned.

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