The Insurance Regulatory and Development Authority of India (IRDAI) on February 02, 2024 issued the Exposure Draft Insurance Regulatory and Development Authority of India (Corporate Governance) Regulations, 2024
The following has been stated namely: -
•It states that these regulations lay down a framework that would address the matters pertaining to the following namely: -
a) Corporate Governance
b) Remuneration of Directors and KMPs
c) Stewardship Code
d) Appointment or Continuation of Common Directors
• It states that the objective of the Regulations is to provide the governance structure for Insurers; responsibilities and functions of the Board and the management of Insurers which:
(i) recognizes and meets the expectations of all stakeholders, particularly of policyholders
(ii) ensures the adoption of sound and prudent principles and practices for the governance
• All the stakeholders are requested to forward their comments/suggestions, if any, on the proposed regulations (Annexure-A) in the attached format (Annexure- B) on or before 5:00 PM on February 23, 2024, to Shri Balaji Venkataramanan [email protected] with a copy to Shri Manoj Kumar [email protected].
Kindly refer to the document to view the annexures
