Section 4 in The Insurance Regulatory And Development Authority (Obligations Of Insurers To Rural Or Social Sectors) Regulations, 2002
4. Obligations of existing insurers .-(1) The obligations of existing insurers as on the date of commencement of IRDA Act shall be decided by the Authority after consultation with them and the quantum of insurance business to be done shall not be less than what has been recorded by them for the accounting year ended 31st March, 2002.
(2)The Authority shall review such quantum of insurance business periodically and give directions to the insurers for achieving the specified targets.
