ANNUAL REPORT 2007-08
cent on a gross underwriting basis. However, the Authority retains the right to query or require changes to any such rates schedules and rating guides, at its sole discretion.
Any revision in rates shall only be given effect to on
renewal date of the insurance and insurers shall not be permitted to cancel existing insurances and replace them by new insurances at revised rates. The insured has, however, the right to require cancellation of his insurance in which case, premium at short period scale
as applicable shall be chargeable.
The terms & conditions of cover and the wordings of policies, endorsements, warranties and clauses set out in the erstwhile tariffs shall continue to apply until fresh market wordings are examined and accepted by the Authority after considering the views of various stakeholders.
Right to Information Act, 2005
During the year 2007 -2008 the Authority nominated the following Officers as Public Information Officers under the Section 19 (1) of RTI Act, 2005.
Name of the PIO
Subject related to
No. of Applications
Appeals recd. by Appellate Authority
1. Mr Prabodh Chander Non-Life, Hindi, Health Insurance, Legal
2. Mr. K Subrahmanyam Actuarial, Intermediaries & Inspections
3. Mr. Kunnel Prem
4. Mrs. Vedakumari
Agents’ Training Institute, Corporate Agency and any other residuary matters
Shri C R Muralidharan, Member (F&I) continues to be the Appellate Authority under Section 19 of the said Act.