The gazette notification announces the reconstitution of the Insurance Advisory Committee by the Insurance Regulatory and Development Authority of India (IRDAI).
The reconstitution is effective from the date of publication in the official gazette, August 23, 2023.
Key Changes
The Insurance Advisory Committee is being reconstituted as per Section 25(1) of the Insurance Regulatory and Development Authority Act, 1999 and Regulation 3A of the IRDAI (Insurance Advisory Committee) Regulations, 2000.
The notification lists 18 members who have been appointed to the reconstituted Insurance Advisory Committee.
The appointed members include the Chairman of the State Bank of India, Chairpersons of the Executive Committees of the Life Insurance Council and General Insurance Council, the Director of the National Insurance Academy, the President of the Institute of Actuaries of India, the President of the Insurance Brokers’ Association of India, the President of the Indian Institute of Insurance Surveyors & Loss Assessors and several other individuals.
Impact Analysis
Stakeholders
Insurance Surveyors and Loss Assessors: The committee's guidance may influence the standards and practices followed by surveyors and loss assessors.
Suggested Action Items
Stakeholders should stay informed about any regulatory changes or policy updates resulting from the committee's recommendations.
Key Entities Referenced
Insurance Regulatory and Development Authority of India (IRDAI): The regulatory body responsible for regulating and developing the insurance industry in India.
Insurance Advisory Committee: A committee constituted by the IRDAI to provide advice and recommendations on matters related to the insurance industry.
Insurance Regulatory and Development Authority Act, 1999: The Act that established the IRDAI and provides the legal framework for regulating the insurance sector in India.
IRDAI (Insurance Advisory Committee) Regulations, 2000: Regulations governing the constitution, functions, and procedures of the Insurance Advisory Committee.
State Bank of India: A major public sector bank in India, whose Chairman is a member of the reconstituted committee.
Life Insurance Council: An association representing life insurance companies in India.
General Insurance Council: An association representing general insurance companies in India.
National Insurance Academy: An institution providing education and training in the field of insurance.
Institute of Actuaries of India: The professional body for actuaries in India.
Insurance Brokers’ Association of India: An association representing insurance brokers in India.
Indian Institute of Insurance Surveyors & Loss Assessors: An institute representing insurance surveyors and loss assessors in India.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-23082023-248262
xxxGIDHxxx
CG-DL-E-23082023-248262
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असाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 588] िई कदल्ली, बुधिार, अगस्ट्त 23, 2023/भाद्र 1, 1945
No. 588] NEW DELHI, WEDNESDAY, AUGUST 23, 2023/BHADRA 1, 1945
भारतीय बीमा जिजियामक और जिकास प्राजधकरण
अजधसचू िा,
हदै राबाद, 22 अगस्ट्त, 2023
बीमा सलाहकार सजमजत का पिु गठग ि
फा.स.ं भा.बी.जि.जि.प्रा./बी.स. स. /6/194/2023.—बीमा जिजियामक और जिकास प्राजधकरण अजधजियम, 1999
(1999 का 41) के अिुच्छेद 25 के उप-धारा (1) द्वारा प्रदत्त िजियों और बीमा जिजियामक और जिकास प्राजधकरण
(बीमा सलाहकार सजमजत) जिजियम, 2000, के जिजियमों 3 अ के अंतगगत प्रदत्त िजियों का प्रयोग करत े हुए प्राजधकरण,
जिम्नजलजखत अजधसूचिा द्वारा बीमा सलाहकार सजमजत का पिु गगठि करता ह,ै िो रािपत्र में इिके प्रकािि की जतजि स े
प्रिृत्त होंगे।
पुिगगठठत बीमा सलाहकार सजमजत के सदस्ट्य के रूप म ेंजिम्नजलजखत को जियुि ककया गया ह:ै-
1. अध्यक्ष, भारतीय स्ट्टेट बैंक
2. िीिि बीमा पठरषद की कायगकारी सजमजत के अध्यक्ष
3. साधारण बीमा पठरषद की कायकग ारी सजमजत के अध्यक्ष
4. जिदेिक, राष्ट्रीय बीमा अकादमी
5. अध्यक्ष, भारतीय बीमांकक संस्ट्िाि
6. अध्यक्ष, भारतीय बीमा दलाल संघ
7. अध्यक्ष, भारतीय बीमा सिेक्षक और हाजि जिधागरक संस्ट्िाि
8. श्री अठरजित बसु
9. श्री एल. जिश्विािि
5399 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
10. डॉ. के. श्रीिाि रेड्डी
11. श्री एि.एस. कण्णि
12. डॉ. अजित रािड े
13. श्री धिंिय दात े
14. श्री श्रीमोहि यादि
15. सुश्री पद्मिा चुंडुरु
16. डॉ. हठर िंकर गौड़
17. श्री पी.एस. ियकुमार
18. श्री रािेंद्र बेरी
देबािीष पण्डा, अध्यक्ष
[जिज्ञापि III/4/असा./370/2023-24]
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
NOTIFICATION
Hyderabad, the 22nd August, 2023
RECONSTITUION OF INSURANCE ADVISORY COMMITTEE
F. No. IRDAI/IAC/6/194/2023.—In exercise of the powers conferred by sub-section (1) of Section 25 of the
Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), and in terms of Regulation 3A of the
Insurance Regulatory and Development Authority (Insurance Advisory Committee) Regulations, 2000, the Authority
hereby makes the following notification reconstituting the Insurance Advisory Committee which will be effective
from the date of publication in the official gazette.
The following are appointed as the members of the reconstituted Insurance Advisory Committee:
1. Chairman, State Bank of India
2. Chairperson of Executive Committee of Life Insurance Council
3. Chairperson of Executive Committee of General Insurance Council
4. Director, National Insurance Academy
5. President, Institute of Actuaries of India
6. President, Insurance Brokers’ Association of India
7. President, Indian Institute of Insurance Surveyors & Loss Assessors
8. Shri Arijit Basu
9. Shri L. Viswanathan
10. Dr. K. Srinath Reddy
11. Shri N.S. Kannan
12. Dr. Ajit Ranade
13. Shri Dhananjay N. Date
14. Shri Shrimohan Yadav
15. Ms. Padmaja Chunduru
16. Dr. Hari Shankar Gaur
17. Shri P.S. Jayakumar
18. Shri Rajendra Beri
DEBASISH PANDA, Chairperson
[ADVT.-III/4/Exty./370/2023-24]
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.