K N Bhandari, general secretary of General Insurance Council (GIC), has resigned from his post. Bhandari tendered his resignation from the post in Hyderabad on Thursday. Speaking to FE over phone from Hyderabad, where Bhandari had attended a meeting convened by Insurance Development and Regualtory Authority (IRDA), said, “I resigned from my post over some policy differences.” Bhandari said that he has requested GIC to accept his resignation with immediate effect. “I haven’t received no communication from the council after putting in his papers.”
But, it was not clear yet who is likely to be the new general secretary of the council and what kind of policy difference had cropped up during Bhandari’s meeting with IRDA officials leading to his resignation. GIC acts as self-regulatory body for the Rs 28,000 crore general insurance industry.
