CS Professional · Banking and Insurance - Laws and Practice · Functions in Insurance and Compliance related thereto (Part V)
Under section 64F of the Insurance Act, 1938, how is the Chairperson of the Executive Committee of the General Insurance Council chosen?
The Chairperson is elected from among the four representatives of Council members who are themselves elected by the members. The Authority-nominated eminent person and the nominated representatives of agents, surveyors and policyholders are not eligible under the proviso, and the Secretary has no role in choosing the Chairperson.
- ANominated by the Authority from the eminent persons
- BOne of the four elected representatives of Council members is elected as ChairpersonCorrect
- CAppointed by the Secretary of the Committee
- DChosen from the representatives of surveyors and loss assessors
Explanation
Section 64F(2) proviso says one of the representatives under clause (a), the four elected by Council members, shall be elected as Chairperson. The eminent person and the representatives of agents, TPAs, surveyors and policyholders are nominated by the Authority but are not the source of the Chairperson. The Secretary is appointed by the Committee, not the other way round.
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