Have hiked provisions, cut costs on motor 3rd party, says HDFC Ergo
MUMBAI: HDFC Ergo General Insurance has tightened costs in motor third-party cover, fearing claims inflation could sink the line without strict underwriting. It reset reserves in FY25-FY26 after spotting inflation outrunning assumptions.Speaking to TOI MD & CEO Parthanil Ghosh said claim dynamics had shifted.“We felt that the third-party rates vis-a-vis the commission that is being…