NRI can buy insurance policy from Indian companies

Insurance Development and Regulatory Authority (IRDA) Chairman N. Rangachary said, NRIs can buy insurance policies from any Indian company by paying premium through remittances from abroad or can even have online transaction through internet.

He also said the Indian companies are free to sell insurance policies to citizens of other countries if they comply with the regulatory criterion of that country where they have the office.

Rangachary said, "In order to sell insurance policies to other citizens residing in different countries, the insurance company must set up an office in that company. And this can be only done if they meet the minimum regulatory requirement of the country they are setting operations in".