Seminar on detariffing in insurance on March 25

The Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) is organising a seminar on 'Detariffing in insurance - issues and challenges' on March 25, 2006.

The seminar will be inaugurated by C S Rao, chairman of Insurance Regulatory and Development Authority (Irda).

Addressing the media here on Thursday, Fapcci president C V Atchut Rao said Finance Minister P Chidambaram may give his consent to attend the seminar.

The seminar, according to G V Rao, former chairman and managing director of Oriental Insurance Company Limited, will focus on how the rating structures will be influenced in a detariffed regime and what will it mean to the regulator, insurers, customers and other stakeholders like actuaries and brokers.

"The non-life insurance market was around Rs 17,600 crore in 2004-05, with the portfolios under the tariff regime constituting nearly 70 per cent of the market. The seminar will bring forth perspectives of various stakeholders to provide greater clarity on the issues and challenges of detariffing," G V Rao added.