IRDAI has issued draft Insurance Regulatory and Development Authority of India (Corporate Governance) Regulations, 2024. As part of the comprehensive review of Regulations being undertaken by the IRDAI, to enhance the ease of doing business and also reduce compliance burden for stakeholders while also ensuring that interests of policyholders continues to be protected, Insurance Councils were asked to submit their recommendations. Councils constituted the Regulations Review Committee (RRC).
The RRC recommended IRDAI (Corporate Governance) Regulations, 2024 as a framework that would address the matters pertaining to the following:
- Corporate Governance;
- Remuneration of Directors and KMPs;
- Stewardship Code;
- Appointment or Continuation of Common Director(s).
