Provide detailed information to customers, insurers told

Tightening its supervision on domestic life insurers, regulator Insurance Regulatory and Development Authority (Irda) has asked them to provide detailed information on premiums they are collecting from policyholders. Insurers will have to submit in the prescribed formats information pertaining to policies where premiums are awaited for more than a quarter to Irda. Data of premiums awaited in the individual business of non-single premium type alone shall be included for this purpose. The data will include the number and amount of policies. The premiums awaited on the policies sold under rural and social sector obligations shall be furnished separately in the ...

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