The Insurance Development and Regulatory Authority (IDRA) has announced that it will convene a significant stakeholder meeting on 17 December 2025 at 3:30 pm in its conference hall. The meeting comes in the wake of the General Insurance Corporation’s decision, dated 3 March 2025, to reject the insurance and reinsurance claims submitted by ‘Popular Rising’, a move that has sparked considerable debate within the insurance sector.
The primary aim of this meeting is to examine the rationale behind the controversial rejection, assess its implications for the broader insurance industry, and explore lessons that can be drawn to improve claims management processes. The session will be chaired by IDRA’s esteemed Chairman, Dr. Md. Aslam Alam, who will guide discussions on regulatory standards, transparency, and risk evaluation protocols.
Originally scheduled for 15 December 2025, the meeting was postponed to 17 December due to unavoidable circumstances. IDRA emphasises that the rescheduling is intended to ensure maximum participation from all stakeholders and to allow for comprehensive and in-depth deliberations on the matter.
The rejection of Popular Rising’s claims has raised critical questions regarding transparency, claims processing standards, and the evaluation of risks, drawing widespread attention from industry analysts and observers. Many believe that the outcomes of this meeting could shape future claims settlement strategies and influence the governance framework of Bangladesh’s insurance sector.
Participants at the meeting will include senior officials of the General Insurance Corporation, members of the Central Rating Committee, representatives from the Bangladesh Insurance Association (BIA), Bangladesh Insurance Forum (BIF), Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Bangladesh Textile Mills Association (BTMA), and Bangladesh Garments Manufacturers and Exporters Association (BGMEA). In addition, other prominent business and trade organisations have been invited to ensure a broad-based and coordinated discussion.
Deputy Director of IDRA, Md. Solaiman, has urged all participants to attend punctually and highlighted that these discussions are expected to contribute to developing new perspectives on claims management and regulatory oversight in Bangladesh. Stakeholders seeking further information are advised to contact Md. Solaiman directly at 024-1051382 or via email at ddnmex@idra.org.bd.
The session is widely regarded as a pivotal step in promoting transparency, accountability, and collaborative dialogue within the country’s insurance sector, reaffirming IDRA’s commitment to robust regulatory supervision and enhancing confidence in the industry.