IRDAI – Risk-Based Capital Framework for Insurers

IRDAI and Implementation of Risk-Based Capital Framework

Today the IRDAI has issued press release and elucidated the steps taken for development and implementation of Indian Risk-based Capital Framework for the Insurance Industry in place present factor-based model.

The release shows that the IRDAI has initiated the First Quantitative Impact Study to evaluate the potential impact on the capital and overall solvency of the insurers.

As rightly expected, let us hope that the insurance industry will achieve heightened financial resilience and also collective vision of inclusive insurance by 2047 for all.

More and more such studies and initiatives are required for strengthening the insurance industry but also to provide for insurance to all by 2047.

Move towards Indian Risk Based Capital (Ind-RBC) Framework.pdf