Irdai proposes changes to IAC meeting frequency, notice period, structure

The Insurance Regulatory and Development Authority of India (IRDAI) has proposed changes to the Investment Advisory Committee (IAC) meeting frequency and notice period structure. The proposed amendments aim to enhance the efficiency and effectiveness of the IAC’s operations. The changes include increasing the frequency of meetings to ensure timely decision-making and reducing the notice period for meetings to facilitate quicker responses to emerging issues. These amendments are part of IRDAI’s broader efforts to strengthen the regulatory framework and improve governance in the insurance sector. By streamlining the IAC’s processes, IRDAI aims to ensure that the committee can effectively oversee investment activities and address any potential risks. The proposed changes reflect IRDAI’s commitment to maintaining a robust regulatory environment and promoting the stability and growth of the insurance industry.