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TMI BlogInsurers Surpass Targets for Rural Areas in 2010-11X X X X Extracts X X X X X X X X Extracts X X X X ..... Insurers Surpass Targets for Rural Areas in 2010-11 X X X X Extracts X X X X X X X X Extracts X X X X ..... The Insurance Regulatory and Development Authority (IRDA) has reported that it has mandated regulations for both life and non-life insurers and fixed targets for insurers business in "Rural Areas". T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here is no such mandated regulation for Semi-Urban Areas. The authority takes regulatory action for non-compliance of the Insurance Regulatory and Development Authority (Obligations of Insurers to Rur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al or Social Sectors) Regulations, 2002 and amended from time to time, by the State-owned insurers in the rural sector. As per the regulations, the target for exclusive business in rural area fixed fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r State-owned life and non-life insurers is 25% of the total number of policies and 7% of gross premium income written direct in that year, respectively. The performance of the State-owned life insur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er in the rural area was 32.74% against target of 25% of the total number of policies whereas for non-life insurers, it was 10.15 % against target of 7% of gross direct premium income for the financia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l year 2010-11.
This was stated by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in the Rajya Sabha today.
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