POLICYHOLDERS of Integrated Shield (IP) plans can heave a sigh of relief – underwriting results of IP insurers’ portfolios are mostly in the black in 2022.
Insurers, however, are watchful.
IP results for 2022 are partially distorted by Covid conditions early in the year, which dampened claims.
Still, as the pandemic crisis abated, previously deferred non-critical procedures resumed during the year, and claims rose. For some insurers, the inherently higher medical inflation rate conspired with the overall higher inflationary environment to add pressure on costs.
For now, policyholders enjoy a respite from premium hikes for IP base plans. Life Insurance Association (LIA) executive director Chan...