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27 July 2017

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Indian brokers oppose right of refusal rules

Catrin Shi 6 January 2017

Indian (re)insurance brokers have called for the abolition of right of first refusal rules for reinsurance business in the country, claiming the proposed regulations are anti-competitive.

In a letter to insurer CEOs seen by The Indian Express, the Insurance Brokers Association of India (IBAI) called for the immediate repeal of the "regressive, anti-policyholder and anti-competitive" regulation.

"IBAI is of the strong view that for a more balanced and policyholder-centric interpretation in line with principal objectives of the regulation, the reinsurance...


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