Toward a revision of fire and allied perils insurance policies
Indian regulator, IRDAI is likely to modify fire policy and allied perils. A taskforce of seven experts have been entrusted with the examination of the market’s current structure. The fire and allied perils class of business is currently faced with rising loss experience due to upsurge in natural catastrophes.
This revision is designed to improve coverage rate for this kind of risk. The committee’s report is due to be submitted in 12 weeks.
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