IRDAI greenlights reforms, policyholder fund norms, new general insurer
The Insurance Regulatory and Development Authority of India (IRDAI) has approved several reforms in the insurance sector. One of the key changes involves a new fund that will be set up to protect policyholders' interests. Additionally, a new general insurer has been given the green light to operate in the market. This move is expected to increase transparency and accountability in the insurance industry, particularly with the mandatory tagging of sales personnel to insurance proposals and policies.
Read the source report: The Hindu
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