IRDAI to set up hubs on motor, property insurances to promote loss prevention measures
Zee News
IRDAI has decided to set up two hubs on motor insurance and property insurance and also an advisory committee with the overall objective to promote loss prevention measures in the general insurance industry.
New Delhi: The regulator Irdai on Thursday decided to set up two hubs on motor insurance and property insurance and also an advisory committee with the overall objective to promote loss prevention measures in the general insurance industry.
"It has been decided to form a hub on property insurance at 'National Insurance Academy (NIA)' and one on motor insurance at 'Institute of Insurance and Risk Management (IIRM)," the Insurance Regulatory and Development Authority of India (IRDAI) said in a statement.
The decision to set up these hubs was based on the recommendations of a working group on loss prevention and minimisation in the general insurance industry.
