It would enable the entry of new players in the form of regional players, small players, captive players, specialised players and even composite licenses.
IRDAI Chairman Debasish Panda met chief executive officers of some insurance companies last week in Mumbai to give a new thrust to these projects and onboard them by August 1.
A new born would mean both a full-term baby and a pre-term baby, the Bombay High Court on Wednesday said while directing an insurance company to pay Rs 11 lakh medical expenses incurred by a woman from Mumbai for the treatment of her twin babies.