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IRDA forms working panel to explore new distribution channels

The committee will submit the recommendations by February 28

January 24, 2014 1:52 IST | India Infoline News Service
The Insurance Regulatory and Development Authority (IRDA) on Thursday has formed a working group to explore the possibility of introducing an intermediary called Insurance Marketing Firm (IMF), in the sector.

The working group will also study the report of the Govardhan Committee on distribution channels, which was constituted in 2007, said IRDA member (distribution) DD Singh in an order issued on Thursday.

It will submit the recommendations by February 28.

The group will study the issue and recommend to the authority on requirement of capital, geographical spread within which the Insurance Marketing Firm can operate and distribution costs among other related aspects of the proposal.


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