IRDA puts reforms on fast-track mode

Late last week, the regulator sent out six draft regulations on standardization of products, product design, investment norms, bancassurance and reinsurance.

The Insurance Regulatory and Development Authority (IRDA) is moving quickly on the directions of the finance minister. Late last week, the regulator sent out six draft regulations on standardization of products, product design, investment norms, bancassurance and reinsurance. The draft guidelines on bancassurance is up on IRDA’s website, but the remaining drafts are with the industry, which is expected to give its feedback in three week’s time. Read more