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#1
July 21st, 2016, 05:37 PM
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| IRDA New Rules
Will you please tell me Guidelines for Corporate Governance for insurers in India announced by Insurance Regulatory and Development Authority?
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#2
July 21st, 2016, 06:27 PM
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| Re: IRDA New Rules
As you looking for Guidelines for Corporate Governance for insurers in India announced by Insurance Regulatory and Development Authority here I will get details so that you can remember. These guidelines shall be applicable to all insurers granted registration by the Authority except that: Reinsurance companies may not be required to have the Policyholders' Protection Committee Branches of foreign reinsurers in India may not be required to constitute the Board and its mandatory committees as indicated herein. All insurers are hereby advised to ensure compliance with the guidelines. Content which come under file Particulars General Objectives Significant owners, Controlling shareholders – Role of the Board Governance Structure Board of Directors Composition of Board Role & Responsibility of Board Fit & Proper Criteria Disclosures about Meetings of the Board & its Committees Control Functions Delegation of functions of the Board -Committees Audit Committee Investment Committee Risk Management Committee Policyholder Protection Committee Nomination and Remuneration Committee Corporate Social Responsibility Committee With Profit Committee Other Committees Key Management Persons MD/CEO/Whole-time Director Appointed Actuary Statutory Auditors Disclosure Requirements Outsourcing Arrangements Interaction with & Reporting to the Authority (IRDAI) Whistle Blower Policy Evaluation of Board & Independent Directors Applicability Responsibilities of the Board Declaration and Undertaking by Directors Deed of Covenant for Directors Appointment and Reporting of KMPs Form A – Application for seeking approval for appointment/ re- appointment of MD/ CEO Form B – Form of Declaration and undertaking to be furnished by MD & CEO, Form –C Form of Details of remuneration of MD/ CEO Appointment of Statutory Auditors Certificate from Compliance Officer Corporate Governance compliance Status Report For full information please have a look on file Address:- Insurance Regulatory and Development Authority 3rd Floor, Parisrama Bhavan, Basheer Bagh HYDERABAD 500 004 Telangana State (INDIA ) Phone:- (040) 23381100 |
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