Formation of the Operational Committee to oversee and guide the functioning of the Indian Motor Third Party Declined Risk Insurance Pool

order No. IRDA/Nl/ORD/MPL/004/01/2012, dated 3-1-2012

Reference is invited to office order no. IRDA/NL/ORD/MPL/276/12/2011, dated 23rd December, 2011 on dismantling the Indian Motor Third Party Pool and IRDA/NL/ORD/MPL/277/12/2011, dated 23rd December, 2011 on reforming the Indian Motor Third Party Pool.

2. In order to ensure that the setting up of declined risk insurance pool and matters connected to its operations, the Authority constitutes the Operational Committee with following members to oversee a smooth transition to the new system, operates in an efficient & effective manner, protect the interests of the policyholder address issues that may arise during the course of its functioning:

1.  Head of Department (Non-Life), IRDA – Member Convenor

2.  Head of Department (Actuarial), IRDA – Member

3.  Representative from Pool Administrator – Member

4.  Mr. Anurag Rastogi, Bajaj Allianz General Insurance Company Limited

5.  Mr. I. Victor Amaldas, New India Assurance Company Limited

3. The Committee shall have a term of 2 years beginning from 1st March, 2012 or till such time the complete procedures and systems are fully functional. The Committee may invite experts from time to time depending upon the needs and requirements.

Related posts:

1. IRDA – Dismantling of existing Indian Motor Third Party Pool
2. Insurance-Committee on Commercial Motor Third Party Liability Cover
3. IRDA- Third party motor insurance pool needs to be significantly augmented
4. IRDA – Reforming Indian Motor Third Party Pool System
5. IRDA – Solvency Margin of Non-life Insurance in respect of Motor TP Pool