Wednesday, 23 Oct 2019

Surveillance committee will strike the insurance company anytime to find irregularities

The monitoring committee will strike any office of the insurance company to find irregularities. Arrival news will not be notified in advance. If detected, strict measures will be taken. Inspection activities for this committee will begin soon. Headquarters and branches will visit two types of offices. The decision was made at the first meeting of the monitoring team comprising representatives of the Bangladesh Insurance Association and Bangladesh Insurance Forum today. Relevant sources have reported this information. The Insurance and Development Supervisory Authority (IDRA) said today that a vigilance committee has been established to implement the circular directives on financial management of non-life insurance companies and to ensure a maximum commission of 5 percent. Press release.

On the other hand, said the head of the oversight committee and the executive director of the Superintendency of Insurance and Development (additional secretary). Sheikh Maha Rezaul Islam wrote on his Facebook page at the end of the first meeting: “A meeting of the Savilence Committee was created, it was created to oversee the financial management of non-life insurance companies and other financial management up to a maximum of 5% by the Regulatory and Insurance Commission, the strong “Very soon, the central office and branches of any insurance company across the country will soon visit without notice, and if irregularities are observed, measures are taken to agree under the current law, this action is part of the government’s plan to develop the insurance sector.” According to the sources, the development and monitoring of insurance has taken firm steps to implement non-life and non-life insurance issued by the Insurance Development and Control Commission to implement a commission of 5 per cent in addition to the non-life insurance sector. As part of this procedure, a team of 5 representative representatives was formed from the Bangladesh Insurance Association and the Bangladesh Insurance Association.

The Executive Director (additional secretary) told the Development and Insurance Regulatory Authority on 7 September. Sheikh Mohammed: The team is mainly composed by Reza Islam. The team is also on behalf of IDRA: Director Mohammed Siddigur Rahman (Joint Secretary of the Insurance Development and Control Commission, IDRA officials Abu Mahmoud, Roman Zaman, and Hamid Bin Hassan, Bangladesh Insurance Association (BIA). K. Roy, CEO, Rupali Ins. (BIFA) and CEO, Asia Insurance Limited, BI Imr Shaheer Jainer, Joint CEO of BI Imr Shahin, MD Abdul Khal Ia Mine

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