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Insurance Regulatory and Development Authority (IRDAI) has asked the insurance companies to make provision for their exposure to the beleaguered IL&FS group.

They have to make provisions for it as those exposures cannot be written off, IRDAI chairman Shubash Chandra Khuntia said on the sidelines of the release of the handbook on general insurance claim insights for policyholders by the Insurance brokers association.

The regulator had, back in September 2018, asked the insurance companies to declare their exposure, both equity and debt exposure, to the IL&FS group.

Moreover, the IRDAI Chairman had earlier cautioned the insurance companies on the risks associated in investing

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First Published: Jan 31 2019 | 5:54 PM IST

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