IRDAI Established Committees to Recommend Changes to Insurance Industry

IRDAI Established Committees to Recommend Changes to Insurance Industry

• The Insurance Regulatory and Development Authority of India (IRDAI) has formed various committees through the General Insurance Council (GIC) to suggest reforms in several areas of general, reinsurance, and life insurance, including regulation, product, and distribution, among others, in order to overhaul the industry.
• According to a GIC spokesman, these panels include leaders of private and public sector insurance companies, members of Irdai, and representatives from the GIC. Irdai established GIC to serve as a liaison between the insurance regulator and the non-life insurance business.

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Published date : 31 May 2022 05:35PM