Bangladesh, Nov. 12 -- The Insurance Development and Regulatory Authority's (IDRA) decision to suspend the marine cargo insurance operations of two insurers has triggered concerns over procedural fairness, proportionality of regulatory penalties and the competitiveness of Bangladesh's insurance market.

Advertisement In its separate orders issued on November 5 last, the regulator imposed a three-month suspension on the marine cargo insurance operations of Green Delta Insurance PLC and Bangladesh General Insurance Company PLC (BGIC), following inspections of the insurers' head offices on November 2.

It alleged that both the companies had issued marine cargo policies in 2026 at premiums below the prescribed tariff, in violation of Section...