The insurance regulator IRDAI has constituted a working group on Monday, under the chairmanship of Yegna Priya Bharat,CGM(Nonlife), IRDAI, to find out, if the existing IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 and subsequent IRDAI (Insurance Surveyors and Loss Assessors) (first amendment) Regulations 2017, need further improvement.
Such changes may be necessary in order to ensure alignment and clarity of the regulatory framework in relevance with the dynamics of the profession of Surveying and Loss Assessment vis-à-vis the Indian insurance sector, said, Sujay Banarji, Member (Distribution). IRDAI.
It is advised that the working group may hold meetings as and when needed and submit a report with recommendations within six weeks from the date of the constitution of the working group, said Banarji.
The proposed Working Group will be deleberating issues like-
– Holistic analysis of the existing regulatory framework in view of the requirements of the industry.
-Addressing the IIISLA membership related issues.
– Making recommendations in order to bring in more clarity vis-à-vis the areas of ambiguity in the Surveyor regulations.
Some other members of the panel are-A.Sageena, assistant general manager(AGM), Legal Department, Sunil Singh,chief manager, New India Assurance Company, Sanjay Saxena, Vertical Head, Motor Claims (OD & TP), Bajaj Allianz, Vikram Johar, corporate surveyor, Tanmoy Sarkar, IIISLA,