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IRDA issues norm for reconciliation of Co-insurers balance from Electronic Transaction Admin and Settlement System

May 21, 2019
The IRDAI has noticed that the inter-company balances in re-insurances and co-insurance business are significantly and high and are on the rise. The re-insurance and co-insurance transactions typically involve multiple organization across geographies giving rise to various issues. Therefore, IRDA has issued norms to mitigate risk and problem.
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