#1
April 1st, 2017, 04:58 PM
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About IRDA Chairman
Can you provide me the name of Chairman of Insurance Regulatory and Development Authority (IRDA)? Also list me the names of management members of the Company?
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#2
April 3rd, 2017, 10:27 AM
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Re: About IRDA Chairman
As per the section 4 of IRDAI Act' 1999, Insurance Regulatory and Development Authority of India (IRDAI) specify the composition of Authority. The Authority is a ten member team consisting of (a) a Chairman; (b) five whole-time members; (c) four part-time members, (all appointed by the Government of India) Chairman Mr. T. S. Vijayan Top Management Mr. P J Joseph, Member (Non-Life) Mr. Nilesh Sathe, Member(Life) Mrs. V. R. Iyer, Member (Finance & Investments) Ms. Pournima Gupte, Member(Actuary) Functions The functions of the IRDAI are defined in Section 14 of the IRDAI Act, 1999, and include: • Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations • Protecting policyholder interests • Specifying qualifications, the code of conduct and training for intermediaries and agents • Specifying the code of conduct for surveyors and loss assessors • Promoting efficiency • Promoting and regulating professional organisations connected with the insurance and re-insurance industry • Levying fees and other charges • Inspecting and investigating insurers, intermediaries and other relevant organisations • Regulating rates, advantages, terms and conditions which may be offered by insurers not covered by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938) • Specifying how books should be kept • Regulating company investment of funds • Regulating a margin of solvency • Adjudicating disputes between insurers and intermediaries or insurance intermediaries • Supervising the Tariff Advisory Committee • Specifying the percentage of premium income to finance schemes for promoting and regulating professional organisations • Specifying the percentage of life- and general-insurance business undertaken in the rural or social sector |