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Hyderabad
The Insurance Regulatory and Development Authority of India (IRDAI) will be having brainstorming discussions with the captains of the insurance industry for two days from Thursday in Hyderabad.
The meeting, the first edition of Bima Manthan to discuss key issues and the way forward for industry in the current fiscal, is being attended by the top management of all life, general and standalone health insurers during April 25-26, 2024.
Debasish Panda, Chairman, IRDAI along with other members of the Authority, is meeting the CEOs of general insurance industry on Thursday while the Life insurance industry matters will be discussed on Friday.
The meeting assumes significance in the wake of a massive regulatory revamp brought in by IRDAI from April 1 effective from April 1, 2024. It replaced 34 regulations with 6 regulations and introduced two new regulations, among others, enhancing clarity and coherence in the regulatory landscape. The IRDAI is busy working on master circulars on some of the reforms following their Gazette notification recently.
This year also marks the silver jubilee year of the insurance regulator which is now working with an objective of achieving insurance for all by 2047 while promoting ease of doing business and welfare of the policy-holders.
Apart from obtaining the feedback from the industry on various reforms, IRDAI will also take stock of the requirements to ensure the smooth rollout of the reforms taken up.
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