The regulator released an exposure draft on investment norms.
In the CII insurance summit held today, IRDA Chairman, J Hari Narayan said that the regulator was working on an exposure draft for senior agents. The regulator wants to give these agents some special facilities as they have served the industry for a long time.
The regulator released an exposure draft on investment norms relating to swaps, hedging and equity exposure for the industry players. IRDA also made it clear among the insurers that IRDA will now carefully examine if the product design matches expectations of the consumers before approving it. "IRDA will release the final product guidelines by the month end and will also examine the product carefully before approving it," said J Hari Narayan, IRDA Chairman.
The regulator will also announce the final guidelines for general insurance IPO in a week's time. It has already incorporated the recommendation suggested by SEBI.