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Medindia » Articles » Insurance » Insurance Concepts and IRDA [Insurance Regulatory and Development Authority] - IRDA Chairman

Insurance Concepts and IRDA [Insurance Regulatory and Development Authority] - IRDA Chairman

Creator: Dr. Sameer Sippy
Keywords: Insurance, India, IRDA, Insurance Regulatory and Development Authority, IRDA Act, Insurance Regulatory Body, Insurance Regulatory Council, Life Insurance Companies, General (Non-Life) Insurance Companies, Ombudsman, policyholder, Subject matter of Solicitation, Life Insurance Council, General Insurance Council, Grievance Redressal, Registration of Complaints, Consumer Protection,

Written by - Dr. Sameer Sippy

Medically Reviewed by - The Medindia Medical Review Team

Last Updated on Sep 28, 2014

IRDA Chairman

The Government of India has circulated a draft to broadbase IRDA chairman selection process.

It is felt in the market that recruiting of retired civil servants as IRDA Chairman has served the purpose of administrative fiefdom of the regulator. In stark contrast to the reality, the IRDA regulatory body has become passive to market realities and majority of the original public policy intentions have been systematically replaced by personal preferences. A right and dynamic leadership is the solution to the requirements of this booming Insurance industry across India.

Published on Sep 18, 2014
Last Updated on Sep 28, 2014