Report of the Committee for development of a concept paper on standalone Micro Insurance Companies

IRDAI has received suggestions to allow Standalone or Exclusive Micro Insurance companies to improve Micro Insurance penetration in India. This may require amendments to extant legal framework as well as IRDAI Regulations.

IRDAI has constituted a committee in February 2020 consisting of members from NGOs, Independent Consultants and other persons having experience of working in Financial Inclusion and regulatory fields, to study the concept of Standalone Micro Insurance Companies. The Committee has since submitted its Report which is now being put up on our web site for the information of public and Comments are invited from all the stakeholders.

Template for Comments

They may be sent to Ms D Gyanaprasuna, AGM, Life Insurance Department at the address mentioned below.

Insurance Regulatory and Development Authority of India,

Survey No 115/1, Financial District, Nanakramguda,

Gachibowli, Hyderabad- 500032 (Telangana state) India

Email: d.gyanaprasuna@irdai.gov.in

The last date for submitting feedback is 9^th November 2020.

Chief General Manager (Life Insurance)