Hospitality industry body Hotel Association of India (HAI) on Tuesday said it has asked the government to intervene to revive insurance premium rates for hotel properties to FY 2018-19 level, stating these have already been increased by over two-and-half times by re-insurers.
In a submission to Finance Minister Nirmala Sitharaman, the body has highlighted that there has been a high rise in insurance premiums for hotel properties in the last couple years, putting all hotels at par without offering flexibility to insurance companies to quote in line with the risk category of the insured, HAI said in a statement.
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