Norms for micro-insurance companies soon

Insurance Regulatory and Development Authority (IRDA) said it is planning to come out with guidelines for the micro-insurance segment in the country to ensure its growth.

“We are working on coming out with guidelines for the micro-insurance industry. Micro-insurance is important to ensure financial inclusion,” IRDA member (Life) Sudhin Roy Chowdhury told reporters on thes idelines of the 5th ICC Insurance Summit here. “There are a lot of issues in the industry and these needs to be ironed out. Customer education will help them penetrate into rural market,” he said.