19th Fair Conference 05

EHM News Bureau - Mumbai

Life insurance penetration has shown substantial increase in the country. There has been an obvious qualitative improvement in life insurance where the premium, coverage and awareness level has increased.Insurance Regu-latory Development Authority of India (IRDA) has been trying to create awareness by various campaigns,” said CS Rao, Chairman, IRDA. Rao was speaking at the 19th Federation of Afro-Asian Insurers and Reinsurers (Fair) 05 conference held at Mumbai. The conference was hosted by the General Insurance Corporation of India (GIC of India) on behalf of the Indian insurance industry in association with the IRDA. The theme of the conference was ‘Existing scenario and future outlook in the areas of insurance and re-insurance.’

National and international speakers of repute dwelled on topics like: Development of technical skills/know-how in the Afro-Asian Region, Weather insurance and Derivatives in Developing countries: An alternative to agricultural insurance, Recent threats posed to insurance sector: Terrorism and cyber crimes, Transacting facultative re-insurance through web enabled technology, effect of soft market conditions: Boon or bane for insurers and reinsurers.

FAIR was established in September 1964 to promote co-operation amongst insurance and re-insurance companies in Asia and Africa. Currently, FAIR has 180 ordinary members, in addition to six correspondent members from various continents.