Your insurance premiums are going to turn 10% costlier. Heres Why

The insurance industry in India is set to see a minimum 10% increase in premiums for properties, liabilities, marine, and motor covers due to a rise in global reinsurance rates by 40-60%. Major reinsurers providing reinsurance capacities in India are based in Europe and the US. The increase in rates is due to weather-related losses worldwide, the war in Ukraine, and climate change uncertainty.