IRDAI has formed a panel to review the regulations pertaining to insurance marketing firms. The committee is headed by Suresh Mathur, Executive Director (insurance marketing firms), IRDAI, with nine more members.
The new distribution channel of insurance marketing firms was introduced in 2015 by IRDAI, with the objective of increasing insurance penetration in the country through an area-wise registration approach. The channel has now been in operation for three years. The committee will come up with recommendations before July 31, 2018, according to an order issued by IRDAI.
Static/Current Takeaways Important for Bank of Baroda PO Exam 2018-
- IRDAI stands for Insurance Regulatory and Development Authority of India.
- Headquarters of IRDAI is in Hyderabad.
- Subhash Chandra Khuntia is Chairman of IRDAI.
Source- The Hindu Business Line