Dec 09, 2004,12.32 IST

IRDA reconstitutes TAC

The Insurance Regulatory and Development Authority has reconstituted its Tariff Advisory Committee, TAC, report newswires.

New India Assurance Company CEO R Beri, Oriental Insurance CEO S L Mohan, National Insurance Company chief H S Wadhwa, General Insurance Corporation CEO P C Ghosh and Maharashtra Government Insurance Fund CEO A K Abhang would represent public sector general insurers in the TAC , according to an IRDA notification.

The elected members from the private sector are HDFC Chubb General Insurance Corporation CEO Shrirang V Samant, Royal Sundaram Alliance Insurance CEO Antony Jacob and IFFCI Tokio General Insurance chief Ajit Narain.

TAC controls and regulates the rates, advantages, terms and conditions that may be offered by insurers in respect of general insurance business relating to fire, marine (hull), motor, engineering and workmen compensation. IRDA Chairman is also the chief of TAC.

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