Take a look at solvency ratio before opting for the insurer
Tuesday, June 27, 2017, 3:36 PM
Solvency ratio defines how good or bad an insurance company’s financial situation is on defined solvency norms. According to IRDAI guidelines, all companies are required to maintain a solvency ratio of 150% to minimise bankruptcy risk. Solvency ratio helps identify whether the company has enough buffer to settle all claims in extreme situations.