Indian brokers oppose right of refusal rules

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 w