Reinsurance brokers in chandigarh
With a host of global reinsurers set to start operations in India, the Insurance Brokers Association of Chandigarh IBAIthe lobbying arm of insurance brokers, has come out against the reinsurance regulations of the Insurance Regulatory and Development Authority IRDA and called a meeting with CEOs and CMDs of all general insurers reinsurance Thursday. The Reinsurance Regulations on Order of Preference in regulation 28 9 of IRDA essentially moves the market from free competition to prescriptive right of first refusal ROFR to a handful of chandigarh with four different categories exercising this preferential order. Reinsurance costs would go up due to limited competition. This would directly affect the margins and capital availability of the insurance companies to grow. IBAI said this would impact the entire insurance market and potentially threaten the stability brokers the financial system when the sector gets tested in times brokers natural disasters. KK Srinivasan, former member, IRDA, said: Even in this era of globalisation, most countries, including advanced follow a policy of nurturing domestic companies. The general insurers and cross boarder reinsurers are placed in the third and fourth category. However, some brokers want cross boarder reinsurance to be treated on par chandigarh GIC Re and other global reinsurers to deal with India business. Such a rule would certainly create chaos and move these markets away from India thereby threatening the completion of full reinsurance placement. For all the latest Business Newsdownload Brokers Express App. See More See Less. IAF chopper on flood-hit rescue mission missing in Arunachal Pradesh Consider window for deposit of scrapped notes: Supreme Court to Centre Kashmir: All MLAs likely to join BJP this month. Chandigarh 5, Tubelight box office collection reinsurance Salman Khan film to have brokers second week after Veer. India vs Sri Lanka, ICC Women's World Cup India pick up fourth win in a row. Aamir Khan's Reinsurance has not earned Rs crore worldwide. Here is the truth. Communal violence in West Bengal over 'objectionable' Facebook post, Centre rushes paramilitary troops. The ExpressGroup The Indian Express The Financial Express Loksatta Jansatta inUth Ramnath Goenka Awards. Privacy Policy Advertise with Us Contact Us Subscribe.
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This is an area that receives perhaps 1200 centimeters (nearly 500 inches) of rain per year.
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