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General Insurers should be allowed in surety bond biz: Irdai working group

This is because surety bond insurance is yet to develop in India and risk exposure under this business is significant compared to other more mature lines of business

IRDAI | general insurers

Subrata Panda  |  Mumbai 

Irdai in talks with insurance firms hit by govt's mega PSB merger drive
The insurance regulator had set up a committee to examine the possibility of general insurance companies issuing surety bonds

A working group of the insurance regulator, tasked with giving recommendations on Indian offering surety bonds, has said insurers should be allowed to enter into surety bond insurance business with solvency margin above a certain threshold.



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First Published: Mon, October 19 2020. 19:39 IST