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  • Insurance IRDAI reconstitutes its insurance advisory committee (IAC)

    IRDAI reconstitutes its insurance advisory committee (IAC)

    The committee looks into matters relating to investor protection, industry development and simplification of the regulations.
    Team Cafemutual Jun 7, 2017

    IRDAI has re-constituted the Insurance Advisory Committee. The committee advises IRDAI on development, disclosures and regulatory aspects of the insurance industry.

    The committee also looks into matters relating to regulation of insurance for ensuring investor protection and issues related to development of insurance industry.

    Among its recent key recommendations was the increase in commission structure of insurance agents and insurance intermediaries.

    In the reconstituted committee, the total number of members has been reduced to 24 from 25. 

    IRDAI’s Insurance Advisory Committee was constituted last in 2000 under the Chairmanship of C Rangachary.

    Here’s the list of members of the reconstituted Insurance Advisory Committee

    1.         Chairman, Life Insurance Corporation of India

    2.         Chairman-cum-Managing Director, National Insurance Co. Ltd.

    3.         Chairman-cum-Managing Director, General Insurance Corporation of India

    4.         MD & CEO, ICICI Prudential Life Insurance Co. Ltd.

    5.         MD & CEO, Bajaj Allianz General Insurance Co. Ltd.

    6.         Chairman-cum-Managing Director, Star Health & Allied Insurance Co. Ltd.

    7.         Director, National Insurance Academy

    8.         President, Institute of Actuaries of India

    9.         President, Insurance Brokers’ Association of India

    10.     President, Indian Institute of Insurance Surveyors & Loss Assessors

    11.     Insurance Ombudsman, Guwahati

    12.     Secretary General, Insurance Institute of India

    13.     Secretary, General Insurance Council

    14.     Secretary, Life Insurance Council

    15.     Managing Director, Vidal Health TPA Private Ltd.

    16.     Chairman, ASSOCHAM, National Council for Insurance

    17.     Managing Director & CEO, Indian Bank

    18.     Chief Executive Officer, CAMS Insurance Repository Services Ltd.

    19.     Chief Executive Officer, XL Insurance Co. SE, Branch in India

    20.    M. Rajyalakshmi Rao

    21.   Goraknath Agarwal

    22.   M. Kalyanasundaram

    23.   M. Rajavardhan Reddy

    24.   Adnan Mahmood

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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