Describe the role of foreign insurers in India.
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it helps to develop modren thinking among indians
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Forign insurers also said control over significant policies of the insurance company should be exercised by its board. Quorum shall mean and include presence of the majority of the Indian directors, irrespective of whether a foreign investor's nominee was present or not.
Insurers have been given three months to comply with the guidelines, but IRDAI will grant them another three months to meet the requirements.
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