IRDAI constitutes two task forces on issues of reinsurance support

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos of the general insurance firms

The regulator has formed two task forces to study issues the non-life insurance and life insurance industries face in reinsurance support. The two have to give reports in three weeks, said IRDAI.

Reinsurance support refers to insurance companies transferring a part of the risk they underwrite to other firms. The task force for the non-life insurance industry has nine members and it will be headed by Bhargav Dasgupta, MD&CEO, ICICI Lombard General Insurance.

The terms for reference for the task force include issues discussed by the industry players with Irdai in the recently concluded bi-monthly meeting with the top honchos