Mumbai: K N Bhandari, the secretary general of the General Insurance Council (GIC), a self-regulatory body for non-life insurers, has decided to step down, following sharp differences between private and public sector players on a host of issues.
The differences, which were across the spectrum, were showing no signs of receding. “There are differences over administered pricing, market wordings and health insurance, which were hampering the functioning of the council,” a source close to the development said.
Bhandari announced his decision to step down as the secretary general after a council meeting in Hyderabad last week. The meeting, which was convened mainly to discuss a new health insurance cover, which will be portable across companies, ended inconclusive.
The former New India Assurance chairman, however, tried to play down the issue and said: “I want some time for introspection and I have yet to decide on what I propose to do.”
The differences, which were across the spectrum, were showing no signs of receding. “There are differences over administered pricing, market wordings and health insurance, which were hampering the functioning of the council,” a source close to the development said.
Bhandari announced his decision to step down as the secretary general after a council meeting in Hyderabad last week. The meeting, which was convened mainly to discuss a new health insurance cover, which will be portable across companies, ended inconclusive.
The former New India Assurance chairman, however, tried to play down the issue and said: “I want some time for introspection and I have yet to decide on what I propose to do.”
Source: Business Standard
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