The Insurance Regulatory and Development Authority of India (IRDAI) on January 03, 2025, issued the notification regarding the Insurance Regulatory and Development Authority of India (Reinsurance Advisory Committee) (Amendment) Regulations, 2025, to further amend the IRDAI (Re-insurance Advisory Committee) Regulations, 2019.
The following has been stated namely: -
• The objective of these amendment regulations is to enhance efficiency of the conduct of the Reinsurance Advisory Committee
• Regulation 5 which states “Resignation and filling of casual vacancies” shall be substituted namely: -
“Resignation, removal from office and filling of casual vacancies”
• Regulation 6 which states “Procedure for conduct of the meeting of the Committee” the following sub regulation (1) has been inserted namely: -
“Meeting of the Committee: The Committee may meet as often as considered necessary, at such places within India, by such mode and at such time as may be decided by the Chairman”
This shall come into force on January 03, 2025.
[Notification No. IRDAI/Reg/3/210/2025]
