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Home / IRDA Update 

IRDA panel begins talks on norms

The advisory committee of the Insurance Regulatory and Development authority (IRDA) today began its three day meeting to finalise guidelines for the sector but decided to take up any sensitive issues.

The 26-member committee, having representations from various segments of the insurance industry including actuarial services, LIC, GIC and insurance intermediaries was able to deliberate only one-fifth of the agenda on the first day.

The remaining part will be taken up in the next two days. This was the first meeting of the advisory committee after it was constituted and the meeting deliberated upon various suggestions of the members.

The sensitive issues like the percentage of equity stake to be held by FIIs in insurance ventures and whether the FII state should form part of the 26 percent proposed for foreign partners in insurance ventures will be taken up only on the third day.

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