Irdai plans to roll out risk-based capital norms by April. Are insurers ready?
While the current regime is “relatively straightforward and formula-based”, the RBC framework is much more intensive and requires significant information to assess the risks an insurer carries, the capital required to support those risks, and the capital available with the company, said Hari Radhakrishnan, regional director, First Policy Insurance Brokers and former head of underwriting (commercial lines) at HDFC ERGO General Insurance.
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