Indian insurers lambasted for fire premium price war
India's Finance Ministry has censured four state-owned insurers for offering "ridiculously low" fire premiums to corporate clients after attempts to undercut each other led some to offer 100% premium discounts.
A letter from the ministry accused the insurers of focusing on increasing business even at the cost of incurring losses, according to The Hindu.
"The Public Sector Undertakings are advised to be more
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