Golan non-expert prices in the insurance industry

According to Monetary News, Mohammad Babakordi, Director of Engineering Insurance and Head of Technical Deputy of Cooperative Insurance Company, in an exclusive interview with Monetary News reporter, said about the competition for selling insurance policies by breaking rates in the insurance market: “Unfortunately, now the market with It is facing unhealthy. Non-technical competition has become very fierce. We can not say that it is a rate break because we do not have an approved rate; Of course other than the car string. But non-technical rates are quite evident in the market, and this increases the loss ratio. Sometimes companies are challenged if big losses occur and there is a lot of unhealthy competition.
Unfortunately, insurance companies also show that they can not do this themselves. Even in one of the engineering fields, we requested that the tariff system return to the field of insurance for basic and hidden defects of the building, which the central insurance opposed for various reasons. But with the way we are moving, I think we will soon have to return to the tariff system. Not 100%, but in a limited way, we have to go back because some companies do not meet the tariff-free requirements now.