The Insurance Regulatory and Development Authority of India (IRDAI) has extended the ‘Use and File’ procedure for all the health insurance products and almost all the general insurance products under health insurance business. This is a big change moving from the current regime where insurers are required to get a prior approval for launching a new product to a new regime where they can launch new products without any prior approval.
India: Life market expected to grow by 15% in next 3-5 years
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