**Executive Summary**
This document, issued by the Insurance Regulatory and Development Authority of India (IRDAI) on July 16, 2019, announces the reconstitution of the Insurance Advisory Committee. This reconstitution is effective from July 25, 2019. The document lists the members of the newly formed committee.
**Key Points / Main Content**
* **Reconstitution Authority:** The reconstitution is conducted under Section 25(1) of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), and Regulation 3A of the Insurance Advisory Committee (Meetings) Regulations, 2000.
* **Effective Date:** The reconstituted committee is effective from July 25, 2019.
* **Committee Members:** The document lists the 25 members of the reconstituted Insurance Advisory Committee, including their titles and affiliated organizations. The list includes:
* Chairman, Life Insurance Corporation of India
* Chairman-cum-Managing Director, The Oriental Insurance Company Limited
* Chairman-cum-Managing Director, General Insurance Corporation of India
* Chief Executive Officer, Kotak Mahindra Life Insurance Company Limited
* Chief Executive Officer, ICICI Lombard General Insurance Company Limited
* Chairman-cum-Managing Director, Star Health & Allied Insurance Company Limited
* Director, National Insurance Academy
* President, Institute of Actuaries of India
* Secretary General, Insurance Institute of India
* President, Insurance Brokers' Association of India
* President, Indian Institute of Insurance Surveyors & Loss Assessors
* Insurance Ombudsman, Guwahati
* Secretary, Executive Committee of General Insurance Council
* Secretary, Executive Committee of Life Insurance Council
* Managing Director, Medi Assist Insurance TPA Private Limited
* Chairman, CII, National Committee on Insurance and Pensions
* Managing Director & Chief Executive Officer, Syndicate Bank
* Chief Executive Officer, NSDL Database Management Limited
* Chief Executive Officer, Swiss Reinsurance Company Limited, India Branch
* Registrar, NALSAR University of Law, Hyderabad
* Lalit Kumar Chandel, Economic Adviser, Department of Financial Services
* M. Rajavardhan Reddy
* P.K. Dash
* Pushpa Girimaji
* Dr. Chiranjeevi Reddy Sannareddy
**Impact Analysis**
**Insurance Industry Stakeholders (including companies listed in the committee):**
* **Impact:** Their representatives now constitute the Insurance Advisory Committee, shaping future insurance regulations and policies.
* **Action Required:** Actively participate in committee meetings and contribute to the formulation of effective insurance regulations.
**Insurance Customers/Policyholders:**
* **Impact:** The policies and regulations shaped by this committee will indirectly affect the services, products, and protections available to them.
* **Action Required:** No immediate action required, but remain informed about changes in insurance regulations and policies.
**IRDAI:**
* **Impact:** The Authority now has a reconstituted committee to advise them on insurance-related matters.
* **Action Required:** Utilize the expertise of the committee to develop sound insurance regulations and policies.
Key Entities Referenced
Insurance Regulatory and Development Authority Act, 1999: The act that provides the legal basis for the Insurance Regulatory and Development Authority of India.
Insurance Advisory Committee: A committee reconstituted by the Insurance Regulatory and Development Authority of India to provide advice on insurance matters.
Insurance Regulatory and Development Authority of India (IRDAI): The regulator of the insurance industry in India.
Hyderabad: The location where the notification regarding the reconstitution of the Insurance Advisory Committee was issued.
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No. 249] NEW DELHI, TUESDAY, JULY 16, 2019/ASHADHA 25, 1941
भभभभााााररररततततीीीीयययय बबबबीीीीममममाााा ििििववववििििननननययययााााममममकककक औऔऔऔरररर ििििववववककककाााासससस (cid:1)(cid:1)(cid:1)(cid:1)ााााििििधधधधककककररररणणणण
अअअअििििधधधधससससचचूूचचूू ननननाााा
हैदराबाद,12 जुलाई, 2019
बबबबीीीीममममाााा ससससललललााााहहहहककककाााारररर ससससििििममममिििितततत ककककाााा पपपपननननुुुु गगगगठठ(cid:12)(cid:12)ठठ(cid:12)(cid:12) नननन
फफफफाााा.... सससस..ंं..ंं भभभभाााा....बबबबीीीी....ििििवववव....ििििवववव....(cid:1)(cid:1)(cid:1)(cid:1)ाााा....////बबबबीीीी....सससस....सससस....////8888////111155559999////2222000011119999....————बीमा िविनयामक और िवकास (cid:1)ािधकरण अिधिनयम, 1999
(1999 का 41) के अन(cid:11)ु छेद 25 क(cid:15) उप-धारा (1) (cid:16)ारा (cid:1)द(cid:17) शि(cid:18)य(cid:20) और बीमा सलाहकार सिमित (बैठक(cid:24)) िविनयम, 2000,
के िविनयम 3अ के अंतग(cid:28)त (cid:1)द(cid:17) शि(cid:18)य(cid:20) का (cid:1)योग करते (cid:31)ए (cid:1)ािधकरण बीमा सलाहकार सिमित का पनु ग(cid:28)ठन करते (cid:31)ए इसके
(cid:16)ारा िन"िलिखत िविनयम बनाता ह,ै जो 25 जुलाई, 2019 से (cid:1)भावी होगी।
पुनग(cid:28)(ठत बीमा सलाहकार सिमित िन" (cid:1)कार ह ै:-
1. अ)य*, भारतीय जीवन बीमा िनगम
2. अ)य*-सह-(cid:1)बंध िनदशे क, द ओ(रए,टल इ/शुरे/स कंपनी िलिमटेड
3. अ)य* सह-(cid:1)बंध िनदशे क, भारतीय साधारण बीमा िनगम
4. मु2य कायक(cid:28) ारी अिधकारी, कोटक मिह/4ा लाइफ इ/शुरे/स कंपनी िलिमटेड
5. मु2य कायक(cid:28) ारी अिधकारी, आईसीआईसीआई लो5बाड (cid:28)जनरल इ/शरु े/स कंपनी िलिमटेड
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7. िनदशे क, रा:ीय बीमा अकादमी
8. अ)य*, भारतीय बीमाकं क सं7थान
9. महासिचव, भारतीय बीमा सं7थान
10. अ)य*, भारतीय बीमा दलाल संघ
11. अ)य*, भारतीय बीमा सव;*क और हािन िनधार(cid:28) क सं7थान
3617 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
12. बीमा लोकपाल, गुवाहाटी
13. सिचव, सामा/य बीमा प(रषद क(cid:15) काय(cid:28)कारी सिमित
14. सिचव, जीवन बीमा प(रषद क(cid:15) कायक(cid:28) ारी सिमित
15. (cid:1)बंध िनदशे क, मेडी अिस7ट इ/शरु े/स टीपीए (cid:1)ाइवेट िलिमटेड
16. अ)य*, सीआईआई, बीमा एवं प(cid:24)शन के संबंध म(cid:24) रा:ीय सिमित
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19. मु2य कायक(cid:28) ारी अिधकारी, ि7वस रीइ/शुरे/स कंपनी िलिमटेड, भारतीय शाखा
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21. लिलत कुमार चंदले , आAथक सलाहकार, िव(cid:17)ीय सेवाए ँिवभाग
22. एम. राजवध(cid:28)न रेCी
23. पी.के. दाश
24. पुDपा िग(रमाजी
25. डॉ. िचरंजीवी रेCी सEारेCी
डॉ. सभु ाष सी. ख(ुं टआ, अ)य*
[िवFापन-III/4/ असा. /135/19]
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
NOTIFICATION
Hyderabad, the 12th July, 2019
RECONSTITUION OF INSURANCE ADVISORY COMMITTEE
F. No. IRDAI/IAC/8/159/2019.—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
Advisory Committee (Meetings) Regulations, 2000, the Authority hereby makes the following notification reconstituting
the Insurance Advisory Committee which will be effective from 25th July, 2019.
The reconstituted Insurance Advisory Committee is as under:
1. Chairman, Life Insurance Corporation of India
2. Chairman-cum-Managing Director, The Oriental Insurance Company Limited
3. Chairman-cum-Managing Director, General Insurance Corporation of India
4. Chief Executive Officer, Kotak Mahindra Life Insurance Company Limited
5. Chief Executive Officer, ICICI Lombard General Insurance Company Limited
6. Chairman-cum-Managing Director, Star Health & Allied Insurance Company Limited
7. Director, National Insurance Academy
8. President, Institute of Actuaries of India
9. Secretary General, Insurance Institute of India
10. President, Insurance Brokers’ Association of India
11. President, Indian Institute of Insurance Surveyors & Loss Assessors
12. Insurance Ombudsman, Guwahati
13. Secretary, Executive Committee of General Insurance Council¹Hkkx IIIµ[k.M 4] Hkkjr dk jkti=k % vlk/kj.k 3
14. Secretary, Executive Committee of Life Insurance Council
15. Managing Director, Medi Assist Insurance TPA Private Limited
16. Chairman, CII, National Committee on Insurance and Pensions
17. Managing Director & Chief Executive Officer, Syndicate Bank
18. Chief Executive Officer, NSDL Database Management Limited
19. Chief Executive Officer, Swiss Reinsurance Company Limited, India Branch
20. Registrar, NALSAR University of Law, Hyderabad
21. Lalit Kumar Chandel, Economic Adviser, Department of Financial Services
22. M. Rajavardhan Reddy
23. P.K. Dash
24. Pushpa Girimaji
25. Dr. Chiranjeevi Reddy Sannareddy
Dr. SUBHASH C. KHUNTIA, Chairman
[ADVT.-III/4/Exty./135/19]
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and Published by the Controller of Publications, Delhi-110054.