<h1>Finance Minister Calls for Expansion of Non-Life Insurance Sector; Discusses Challenges and Solutions with Industry CEOs.</h1> The Union Finance Minister highlighted the need to expand the reach and growth of the non-life insurance sector in India, which had a penetration rate of only 0.71% in 2011. During a meeting with CEOs from public and private insurance companies, challenges such as regulated tariffs, unlimited liability, and underinsurance in motor vehicle insurance were discussed. Suggestions included de-tariffing motor premiums, capping liabilities, and improving pricing mechanisms for health insurance. Tax-related issues and strategies to enhance home insurance penetration were also addressed, with participants calling for parity in tax treatment with life insurance companies.