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In filings with the state, insurance companies blamed the price increases on growing health care costs and increasing use of health care services.
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The move is a bid to buy more time in hopes that state lawmakers will pass long-term funding for public transit during a legislative veto session in October.
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Indian insurance companies are proceeding carefully with new investments. Equity derivatives adoption remains slow despite regulatory approval. Bond forward rate agreements see limited activity. Insurers are developing risk management frameworks and upgrading IT systems. They plan to start with small exposures in equity derivatives. Discussions included gold ETFs and REIT limits. Regulators are urging diversification within existing limits.
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