Rising claims point to premium hikes

Singapore

A STUDY conducted by the Life Insurance Association Singapore last year has found that while Integrated Shield Plans (IPs) have served policyholders well, they are in danger of becoming unsustainable as rising claims have drastically squeezed underwriting profit margins.

"Unfortunately, the long-term sustainability of IPs and IP riders may be at risk, especially for plans which provide coverage for private hospitals and the related medical expenses which have seen a significant increase in claims," the study said.

It said the overall cost escalation will inevitably put more pressure on…