Insurers explain compulsory and voluntary policy excess
In short
Some insurance policies include a compulsory excess, and people can also choose a voluntary excess on top of that. This was described in a publisher summary from The Hindu Economy.
It means the policyholder pays more before insurance starts paying. The reporting does not say which insurer, policy or country this applies to.
What the reporting says
Insurers and policyholders were described as dealing with compulsory excess and optional voluntary excess in a publisher summary from The Hindu Economy. The note says a compulsory excess must be paid, while a voluntary excess is added on top of it, but it does not identify any specific policy, insurer, country or date. The immediate implication is higher out-of-pocket costs for some claims, though the reporting gives no example.
Why it matters
The publisher summary says some insurance policies require a compulsory excess and allow an extra voluntary excess. That means the policyholder pays more before the insurer covers the rest of a claim. No specific policy, insurer, market, date or claim example is provided, so the reporting does not show who is directly affected beyond general policyholders.