**Executive Summary**
The Insurance Regulatory and Development Authority of India (IRDAI) has issued an office order, dated April 10, 2024, to reconstitute an Advisory Committee. This committee, formed according to Rule 19 of the Insurance Ombudsman Rules, 2017, will review the performance of the Insurance Ombudsman system. The tenure of the Committee is two years.
**Key Points / Main Content**
* **Committee Reconstitution:**
* An Advisory Committee is being reconstituted to review the performance of the Insurance Ombudsman system.
* The decision is in accordance with Rule 19 of the Insurance Ombudsman Rules, 2017.
* **Committee Members:**
* The committee comprises six members, including a Chairperson and a Convener.
* The members are:
* Ms. Shalini Prasad (Chairperson)
* Mr. Rakesh Joshi (Member)
* Mr. Kuldip Singh (Member)
* Ms. Pushpa Girimaji (Member)
* Director, Ministry of Consumer Affairs (Member)
* Head of the Department, Policyholders' Protection and Grievance Redressal Department, IRDAI (Convener)
* **Terms of Reference:**
* The committee will review the performance of the Insurance Ombudsman.
* The committee will review other matters related to enhancing the efficiency of the Institution of Insurance Ombudsmen.
* **Tenure:**
* The committee's tenure is two years.
* **Meetings:**
* The committee will generally meet at least twice a year.
* The committee will submit a report to IRDAI annually.
* The report will be for review and further action as deemed necessary.
* **Quorum:**
* The quorum for meetings is three members.
* **Fees and Other Expenses:**
* The Chairperson and Members are eligible for travel, boarding, and lodging.
* These are in addition to a sitting fee at par with other committees constituted by the Authority.
**Impact Analysis**
**Insurance Ombudsman System**
* **Impact**: The advisory committee will assess performance and make recommendations to improve efficiency.
* **Action Required**: None specified in the document.
**IRDAI**
* **Impact**: Receives and reviews the committee's annual reports for further action.
* **Action Required**: Review the committee's report and take action deemed necessary.
**Advisory Committee Members**
* **Impact**: Required to participate in meetings and contribute to the review of the Insurance Ombudsman system.
* **Action Required**: Attend meetings, conduct reviews, and prepare reports for IRDAI.
Key Entities Referenced
Insurance Ombudsman Rules, 2017: The legal framework providing the basis for the policy, specifically Rule 19, which governs the review of the Insurance Ombudsman system.
IRDAI (Insurance Regulatory and Development Authority of India): The primary regulatory body involved, responsible for the overall functioning and review of the Insurance Ombudsman system. It is also the reporting destination of the Advisory Committee.
Advisory Committee: A committee being reconstituted to review the performance of the Insurance Ombudsman system, composed of various members.
Insurance Ombudsman: The subject of the policy, specifically its performance which the Advisory Committee is tasked to review, with the aim of improving its efficiency.
Ministry of Consumer Affairs: One of the represented entities in the Advisory Committee.
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OFFICE ORDER
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In accordance with Rule 19 0f the lnsurance ombudsman Rules, 2017 ,it has been
decided to reconstitute Advisory committee comprising of the following members to
review the performance of the lnsurance ombudsman system from time to time.
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lVIs' Shalini Prasad, former Special Secretary, NlTl Aayog, Chairperson
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Mr. Kuldip Singh, former lnsurance Ombudsman & former
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Ms. Pushpa Girimqi, Consumer Rights Advocate
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Director, Ministry of consumer Affairs , Government of lndia Member
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Terms of reference: To review the performance of the lnsurance ombudsman and
other matters related to enhance efficiency of Institution of lnsurance ombudsmen.
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Tenure: The tenure of the Committee will be two years.
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Quorum: Three Members would constitute a quorum.
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Fees and other Expenses: The Chairperson and Members shall be eligible for
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This issues with the approvar of the competent Ar uthority
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