{"id":176106,"date":"2024-11-16T08:32:12","date_gmt":"2024-11-16T08:32:12","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/16\/irdai-looks-at-new-supervision-norms-times-of-india\/"},"modified":"2024-11-16T08:32:13","modified_gmt":"2024-11-16T08:32:13","slug":"irdai-looks-at-new-supervision-norms-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/11\/16\/irdai-looks-at-new-supervision-norms-times-of-india\/","title":{"rendered":"Irdai looks at new supervision norms &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/thumb\/msid-115349302,imgsize-1425835,width-400,resizemode-4\/115349302.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Irdai looks at new supervision norms &#8211; Times of India\" title=\"Irdai looks at new supervision norms &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"_s30J clearfix  \">\n<div class=\"MwN2O\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<p>MUMBAI: <!-- -->Insurance regulator<!-- --> Irdai is laying the groundwork for a new supervisory system for insurance companies. It was a key topic of discussion at the 8th Bima Manthan held here. The meeting brought together top Irdai officials and leaders from across the insurance industry for a two-day summit focused on preparing the sector for the future.<br \/>With an eye on global standards, discussions centred on risk management, new financial reporting rules, and the implementation of a <!-- -->risk-based supervisory framework<!-- --> (RBSF). RBSF employed by several countries worldwide, allows regulators to focus their attention on the insurers posing the greatest risk to the system, rather than applying a one-size-fits-all approach. By assessing factors like financial stability, governance, and compliance history, regulators can tailor their oversight and intervene early where necessary.<br \/>Both regulators and insurance companies shared insights gleaned from pilot studies and impact assessments, paving the way for a smoother transition to the RBSF. The meeting also highlighted the progress of Bima Sugam, a digital platform designed to simplify the insurance experience for consumers. This initiative, along with a renewed focus on cybersecurity in the face of evolving digital threats, underscores the industry&#8217;s commitment to modernisation and consumer protection.<br \/>Expanding insurance penetration and exploring new avenues for capital augmentation, such as encouraging insurance companies to go public, were also key themes. The Bima Manthan demonstrated a unified effort within the insurance sector to achieve the ambitious goal of &#8220;Insurance for All by 2047.&#8221;<\/div>\n<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 'paid' : 'free' ;\n                    w._sva.setVisitorTraits({\n                    toi_user_subscription_status : prime_user_status\n                        });\n                }\n         if (w._sva && w._sva.setVisitorTraits) {\n                    setAttributes();\n                } else {\n                    w.addEventListener(\"SurvicateReady\", setAttributes);\n          }\n          var s = document.createElement('script');\n          s.src=\"https:\/\/survey.survicate.com\/workspaces\/0be6ae9845d14a7c8ff08a7a00bd9b21\/web_surveys.js\";\n          s.async = true;\n          var e = document.getElementsByTagName('script')[0];\n          e.parentNode.insertBefore(s, e);\n        })(window);\n      }\n    }\n    window.TimesApps = window.TimesApps || {};\n    var TimesApps = window.TimesApps;\n    TimesApps.toiPlusEvents = function(config) {\n      var isConfigAvailable = \"toiplus_site_settings\" in f && \"isFBCampaignActive\" in f.toiplus_site_settings && \"isGoogleCampaignActive\" in f.toiplus_site_settings;\n      var isPrimeUser = window.isPrime;\n      var isPrimeUserLayout = window.isPrimeUserLayout;\n      if (isConfigAvailable && !isPrimeUser) {\n        loadGtagEvents(f.toiplus_site_settings.isGoogleCampaignActive);\n        loadFBEvents(f.toiplus_site_settings.isFBCampaignActive);\n        loadSurvicateJs(f.toiplus_site_settings.allowedSurvicateSections);\n      } else {\n          var JarvisUrl=\"https:\/\/jarvis.indiatimes.com\/v1\/feeds\/toi_plus\/site_settings\/643526e21443833f0c454615?db_env=published\";\n          window.getFromClient(JarvisUrl, function(config){\n            if (config) {\n              const allowedSectionSuricate = (isPrimeUserLayout) ? config?.allowedSurvicatePrimeSections : config?.allowedSurvicateSections\n              loadGtagEvents(config?.isGoogleCampaignActive);\n              loadFBEvents(config?.isFBCampaignActive);\n              loadSurvicateJs(allowedSectionSuricate);\n            }\n          })\n      }\n    };\n  })(\n    window,\n    document,\n    'script',\n  );<\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/irdai-looks-at-new-supervision-norms\/articleshow\/115349292.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Insurance regulator Irdai is laying the groundwork for a new supervisory system for insurance companies. It was a key topic of discussion at the 8th Bima Manthan held here. The meeting brought together top Irdai officials and leaders from across the insurance industry for a two-day summit focused on preparing the sector for the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/thumb\/msid-115349302,imgsize-1425835,width-400,resizemode-4\/115349302.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[137772,137771,289,273,35778,11064,137770,17124,137769,98428,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/176106"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=176106"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/176106\/revisions"}],"predecessor-version":[{"id":176108,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/176106\/revisions\/176108"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/176107"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=176106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=176106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=176106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}