Moneylife had pointed out how Max New York Life (MYNL) had settled 3,943 claims out of the 6,019 claims it had received in 2009-10; its claims settlement ratio had fallen from 90% (2008-09) to 65% (2009-10). Despite the opening up of the Insurance sector to private players, government behemoth Life Insurance Corporation of India (LIC) had a claims settled ratio of 96% and a low claim
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