IRDA should focus on Development : Gipsa
07 February 2001
According to him, the IRDA and the government should now strengthen nationalised insurers in the interest of the national economy.
"If the government wants our continued presence in remote and unviable areas like north eastern regions, then sufficient tax breaks are to be allowed to us," he demands. "In some areas we are operating at a cost of 45 per cent," he adds.
Already four companies have started getting out of social sector insurance schemes like Personal Accident Social Security Scheme (PASS) and Hut insurance. According to industry sources the companies haven't allocated any funds towards these schemes this fiscal.