IP insurers' losses raise possibility of premium hikes

It is their second straight year in the red, despite most raising premiums last year

Insurance premiums on Integrated Shield Plans may rise further after all six companies offering such plans reported underwriting losses in 2017.
Insurance premiums on Integrated Shield Plans may rise further after all six companies offering such plans reported underwriting losses in 2017.PHOTO: LIANHE ZAOBAO

There is a strong possibility that premiums for Integrated Shield Plans (IPs) could rise further, with the six insurers offering such plans suffering underwriting losses last year - their second straight year in the red.

The losses came despite most insurers raising their premiums last year, with the biggest hikes falling on private hospital plans and riders.

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A version of this article appeared in the print edition of The Straits Times on June 25, 2018, with the headline 'IP insurers' losses raise possibility of premium hikes'. Subscribe