The Insurance Regulatory and Development Authority of India vide its notification dated 18th August 2020 has placed the report of the working group on loss prevention and minimalization of the General Insurance Industry.
The report has proposed blacklisting of suspicious garages. Keeping in view synergies involved and the need for collaboration between various stakeholders for effective loss prevention and minimization in the general insurance industry, the Authority had set up a Working Group to study the current scenario and make recommendations. Loss prevention and minimization activities are part and parcel of what the insurers do, as it helps improve their claims experience in various ways.
Therefore IRDAI seeks valuable inputs of all the stakeholders on the recommendation made in the report in the format issued on or before 4th September, 2020 to the mail id’s of nlproducts@irdai.gov.in and rupesh.dhinde@irdai.gov.in.
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