IRDAI moves towards risk-based capital regime

IRDAI has taken the first step towards introduction of risk based capital framework and wants insurers to assess potential impact on the capital needs of insurers if the new rules are implemented.

Aimed at transitioning from the existing solvency-based model to the Risk-Based Capital framework, IRDAI has introduced a 'Technical Guidance' document with the initiation of the First Quantitative Impact Study.