Report of the Working Group (WG) for revisiting the retail business of Engineering tariff

Last updated: 01 May 2021

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The Insurance Regulatory and Development Authority of India (IRDAI) has released the report from its Working Group tasked with reviewing retail Engineering insurance tariffs. This group was formed to update existing products and propose new standard covers suitable for the retail sector, considering technological advancements. The IRDAI is now inviting all stakeholders to provide their valuable feedback on the report by 20th May 2021.

Insurance Regulatory and Development Authority of India Ref. No: IRDAI/NL/WG/ENGG(R)/43/2021-22 Date:29-04-2021 Exposure Draft Report of the Working Group (WG) for revisiting the retail business of Engineering tariff A Working Group was set up by the Authority vide order Ref: IRDAI/NL/WG/ENGG-Retail/240/2020-21 dated 5thNovember 2020 to revisit the existing Engineering insurance products (Retail) and recommend new suitable standard products in line with advancement in technology f

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FAQ :

The report's purpose is to revisit the existing retail Engineering insurance products and recommend new, suitable standard products that align with technological advancements for the retail segment.

The Working Group was set up by the Insurance Regulatory and Development Authority of India (IRDAI).

The Working Group has made various recommendations concerning retail Engineering products and has proposed certain standard covers to address the needs of retail customers.

The report of the Working Group is placed on the IRDAI website for stakeholders to review.

You can provide feedback by emailing nl-products@irdai.gov.in with a copy marked to v.satish@irdai.gov.in and ajay.kumar@irdai.gov.in.

The deadline for submitting feedback is 20th May 2021.

Notification No : IRDAI/NL/WG/ENGG(R)/43/2021-22
Source : https://www.irdai.gov.in/ADMINCMS/cms/frmGeneral_Layout.aspx?page=PageNo4464

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