The Insurance Regulatory and Development Authority (Irda) is now insisting that insurers need to have their policy documents in vernacular languages in a bid to step up increase penetration level of the insurance products. Companies will have to think of one-two pages of document in vernacular languages, said J Hari Narayan, chairman of Irda. If we are saying that we have to widen the base and go for 3% or 4% or 5%...whatever, and go down to tier II, tier III towns, then the companies will have to come out with documents in vernacular languages, he said. In the Micro ...

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