CS Professional · Banking and Insurance - Laws and Practice · Professional Opportunities
Suraksha Life Insurance Ltd, an Indian insurer, is listed on a stock exchange. Its Board wants a professional to act as the key officer who ensures compliance with the Companies Act, the IRDAI regulations and the listing rules, and who advises the Board on governance. Which appointment fits this role most directly?
A Company Secretary fits the role. As key managerial personnel and compliance officer, the Company Secretary ensures the insurer follows company law, IRDAI regulations and listing rules and advises the Board on governance, whereas surveyors, agents and TPAs perform operational insurance functions.
- AA Company Secretary as compliance officer and key managerial personnelCorrect
- BA Surveyor and Loss Assessor
- CAn Insurance Agent
- DA Third Party Administrator
Explanation
A Company Secretary is a key managerial personnel in a listed company and typically acts as compliance officer, advising the Board on corporate, insurance regulatory and listing requirements. Surveyors assess losses, agents sell policies and TPAs process health claims, so none of them handle Board-level compliance.
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