Is it safer to get insured with a public rather than a private insurance company?

#1
Is it safer to get insured with a public insurance company(like LIC or United India Insurance Co.) rather than with a private one because rejection rate in the case of former is much lower than in the later case? I have read one report published in a magazine which supports this. What is your opinion?
If you know about any website where this issue is discussed in detail please mention that too.
Thanks for your help.
 
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