Bangalore: Buying a health, motor or property insurance will pinch your pocket from April as the cost for buying general insurance is set to rise. The General Insurance Corporation (GIC) has been asked by the finance ministry to put an end underwriting on loss-making businesses. According to government, if insurers take on loss-making businesses, they are liable to bear the risks in their books or increase premium rates. GIC is a state-owned reinsurance company that has been designated national reinsurer by the government. Reinsurance companies offer wholesale cover to insurance companies. With the help of this cover insurers are able to protect their balance sheets if claims in any portfolio exceed a certain level. According to the rules and regulations, all general insurance companies should compulsorily reinsure the portion of their risk with GIC. Though insurance companies are given the option to accept or reject insurance policy, GIC has to accept the risks that are passed on. Along with the compulsory portion, insurance companies reinsure other parts of their portfolio with GIC to protect their own balance sheet. According to IRDA's annual report for 2010-11, motor insurance and health insurance had high claims ratios at 103 percent and 100 percent, respectively, making these two businesses unprofitable for insurers as claims have outstripped premiums.