Re :Expert Committee on Brokers and Broker Related Issues.


The broking companies which currently number over 200 have been operating in the market. The brokers have been functioning for 3 years now and the Authority has considered it desirable to constitute an Expert Committee to review the Regulations governing the licensing of brokers in the light of the experience of IRDA in the past three years and for making such recommendations as considered necessary to strengthen the role of brokers more particularly in the context of the de-tariffing of non-life insurance being proposed by the Authority. Accordingly, a Committee is constituted with Shri G.K.Raman, Chairman, Royal Sundaram Alliance Insurance Company Ltd., as the Chairman of the Committee with members drawn from the industry. The composition of the Committee is furnished below :-

1. Shri G.K.Raman - Chairman
Chairman Royal Sundaram Alliance Insurance Company Ltd.

2. Shri G.V.Rao - Member
Former Chairman & Managing Director Oriental Insurance Company Ltd

3. Shri B.Chakrabarti - Member
Chairman & Managing Director - New India Assurance Company Ltd

4. Shri Shrirang V.Samant - Member
Managing Director - HDFC Chubb General Insurance Company Ltd

5. Shri M.Ramadoss - Memeber
Chairman & Managing Director - Oriental Insurance Company Ltd

Shri M.M.Siddiqui, Consultant & Special Officer, IRDA would function as the Convenor of the Committee.

The terms of reference of the Committee are annexed

The Committee is required to submit its report for consideration of the Authority within two months from the date of its constitution.



(C. S. Rao)
Chairman


Encls : Terms of Reference