Meeting of Obligations in Rural Areas and Social Sectors by Insurance Companies.

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..... Meeting of Obligations in Rural Areas and Social Sectors by Insurance Companies.
News and Press Release
Dated:- 23-8-2011

Press Information Bureau Government of India Ministry of Finan .....

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..... ce 23-August-2011 17:50 IST Meeting of Obligations in Rural Areas and Social Sectors by Insurance Companies Insurance Regulatory and Development Authority (IRDA) has issued Insurance Regulatory and .....

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..... Development Authority (Obligations of Insurers to Rural or Social Sectors) Regulations, 2002 requiring insurance companies including State-owned insurers to meet the obligations in the rural areas an .....

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..... d social sectors. These regulations lay down targets for insurance companies as regards the percentage of business to be procured from rural areas/social sectors. In case of default in meeting these o .....

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..... bligations by the insurers, IRDA takes action against such insurance companies including state-owned insurers and can even impose fine for non compliance of the aforesaid Regulations. This informatio .....

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..... n was given by the Minister of State for Finance Shri Namo Narain Meena in a written reply to a Question in Rajya Sabha today. DSM/SS/PM
News - Press release - PIB .....

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