Current Affairs - Miscellaneous - Discussion

For the first time a 16 member committee has been formed by Insurance regulator IRDAI. Its main objective is to examine motor third party insurance pricing and make recommendations on the premium rates for 2019-20. IRDAI member - P.J. Joseph is the chairman of the committee. Other members include 2 senior officials of IRDAI, one each from Centre's Department of Financial Services and Ministry of Road transport and Highways and 5 members from general insurance companies. It also includes other members from All India Motor Transport Corporation (AIMTC), Bus Operators Corporation of India, Federation of India Automobile Association, Consumer Voice, General Insurance Council, Insurance Information Bureau of India (IIBI).