0
The Insurance Regulatory and Development Authority of India (IRDAI) released draft regulations for the designing and pricing of general insurance products. The new regulations seek to protect the interests of the policyholders.
According to the insurance regulator, these proposed regulations provide the basic framework and reflect the fundamental principles to be followed in respect of product design and pricing.
It has been felt necessary to have regulations governing general insurance products, even while having a provision thereunder for issuance of guidelines for various segments as may be necessary, IRDAI said.
The draft, IRDAI (General Insurance Products) Regulations, 2021, which will apply to insurance products as well as add-ons, are aimed at promoting efficiency in the conduct of the general insurance business. The insurance regulator has invited comments from stakeholders by 26 April 2021.
New guidelines to protect the interests of policy holders.
New Delhi: In a bid to protect the interest of policyholders, insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) has come out with draft regulations for the designing and pricing of general insurance products.
The proposed regulations provide the basic framework and reflect the fundamental principles to be followed in respect of product design and pricing, said IRDAI.
The IRDAI (General Insurance Products) Regulations, 2021, which will apply to insurance products as well as add-ons, are aimed at promoting efficiency in the conduct of the general insurance business, said the draft on which the regulator has invited comments from stakeholders by April 26.
IRDAI Proposes Regulations For Designing And Pricing For General Insurance Products | वाबिज दाम पर सही जनरल बीमा पॉलिसी मुहैया कराने पर इंश्योरेंस रेगुलेटर का ध्यान, पेश किया नियमों का मसौदा bhaskar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bhaskar.com Daily Mail and Mail on Sunday newspapers.
Regulator IRDAI on Monday came out with draft regulations for the designing and pricing of general insurance products with a view to protecting the interest of policyholders. The proposed regulations provide the basic framework and reflect the fundamental principles to be followed in respect of product design and pricing, said Insurance Regulatory and Development Authority of India (IRDAI). The IRDAI (General Insurance Products) Regulations, 2021, which will apply to insurance products as well as add-ons, are aimed at promoting efficiency in the conduct of the general insurance business, said the draft on which the regulator has invited comments from stakeholders by April 26.
IRDAI proposes regulations for designing, pricing of general insurance products indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.