Sub: Working Group for revisiting the retail business of Engineering tariff.

1.    With continuous advancement in technology, engineering insurance requirements are constantly evolving. Customer expectations regarding insurance are changing significantly. There is a need to modify the current products under the Engineering retail segment in line with the changing needs and demand. With this view, it has been decided to constitute a Working Group to revisit the Engineering products (which are as per the erstwhile tariffs) for the Retail segment of products.

2.    The Working Group is constituted as follows:

3.    The Terms of Reference of the working group are as under:

              i.        Revisit the product structures of the erstwhile Engineering tariffs relevant for the Retail Category and make suitable recommendations for revising them.

            ii.        Recommend new suitable and appropriate standard products in line with advancements in technology, for the Retail segment.

           iii.        Make recommendations regarding revisions to the General Regulations in the tariffs and suggest framework relevant for (i) & (ii) above.

           iv.        Any other matter relating to Engineering Insurance relevant for Retail segment.

4.    The Working Group shall submit its report in three months’ time from the date of this order.

(Yegnapriya  Bharath)

Chief General Manager (Non-Life)