The Insurance Regulatory and Development Authority (Irda) has constituted an expert committee to review the regulations governing the licensing of brokers. | |
| The committee will also give recommendations on strengthening strengthen brokers' role, according to a notice from Irda. |
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| The notice assumes importance in the context of detariffing of non-life insurance being proposed by the regulator. |
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| C S Rao, chairman, Irda, said, "Brokers will have a major role to play in the detariffed regime, thus requiring the review." The committee may also look at issues such as brokers' commission, he added. |
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| The committee comprises G K Raman, chairman of Royal Sundaram Alliance Insurance, G V Rao, former chairman and managing director of Oriental Insurance Co, B Chakrabarti, chairman and managing director of New India Assurance, Shrirang V Samant, managing director of HDFC Chubb General Insurance and M Ramadoss, chairman and managing director of Oriental Insurance Co. M M Siddiqui, consultant and special officer, Irda, will function as the convenor of the committee. |
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| The committee has sought the views of various stakeholders in this regard. A meeting will be held in Kolkata on August 28, followed by similar meetings in other metros. |
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