ANNUAL REPORT 2007-08
PART IV ORGANISATIONAL MATTERS
Sri C. S. Rao continued to be the Chairman of the Authority during the year till 14th May 2008. Shri J. Hari Narayan, IAS (retired) joined as Chairman of theAuthority on 12th June, 2008. Shri C R Muralidharan, Shri K K Srinivasan, Sri G. Prabhakara and Dr. R. Kannan continue to be Whole-time Members of the Authority.
Sri Vijay Mahajan, MD, BASIX and Smt. Ela R. Bhatt, Founder of Self Employed Women’s Association (SEWA) continue to be part-time Members of IRDA. Ms. Sushma Nath, Secretary, Department of Expenditure, Ministry of Finance was nominated as Part-time Member with effect from 9th April, 2008 and Shri.Ved Jain has replaced Sri Sunil Talati as Part-time Member representing Institute of Chartered Accountants of India.
ii. Meetings of the Authority
Institute, London. The International School for Actuarial Science (ISAS) has started functioning under the aegis of IIRM to achieve the objectives of IRDA to enhance the availability of qualified skill resources to the insurance industry.
iv. Promotion of Official Language
There is a separate Hindi Section at IRDA to ensure the implementation of the constitutional provisions of Official Language and to implement the Official Language Policy of the Government of India to promote use of Hindi in the Head Quarters as well as in the Subordinate Office under its control. Efforts are being made to promote the use of Hindi in official work. The progress made in the use of Hindi was reviewed periodically and measures were adopted to achieve the targets fixed for various items in the Annual Programme for the year 2007-08 issued by the Department of Official Language.
During the period April, 2007 to March, 2008 the Authority had five meetings. During April 2008 to September 2008 two meetings of the Authority were held.
iii. Human Resources
In pursuance of strengthening the human resources of the IRDA, a comprehensive induction plan for recruiting professionals with specialised qualifications and background was embarked upon. Eight officers in the Actuary department joined the IRDA in the months of August/September, 2007. Process of inducting more officers has also started simultaneously.
The Authority, jointly with Andhra Pradesh Government, had set up an Institute of Insurance and Risk Management (IIRM) at Hyderabad in 2002. IIRM aims to serve the learning and development needs of emerging markets in the context of their contemporary challenges. IIRM is overseen by Board of Directors headed by Chairman of the Authority. It continues to cater to the needs of the industry by way of providing diversified range of courses, including Post-Graduate Diploma in General Insurance, Life Insurance and Risk management. The IIRM courses are accredited by Chartered Insurance
Compliance of section 3 (3) Of Official Languages Act
During the year under review, General Orders Notifications / Regulation/ Administrative and other reports, etc., were issued bilingually as required under section 3 (3) of the Official Languages Act, 1963. In order to increase the correspondence in Hindi, standard drafts were prepared; As a result, use of Hindi has increased considerably.
Hindi Salahakar Samiti
In order to accelerate the use of Hindi in the IRDA and its Subordinate Office, The Member IRDA has attended the Hindi Salahakar Samiti under the Chairmanship of the Minister of State for Finance. The main objective of the Samiti is to review the progress made in the use of Hindi in the Ministry as well as its Subordinate Offices/Public Sector Undertakings/ Statuary body and also to recommend concrete measures to increase the use of Hindi in Official work and to comply with the Official Language Policy.
Hindi continues to occupy sufficient space in the monthly IRDA Journal. Along with translation of already published articles in Hindi, the Journal published some original articles in Hindi on Insurance.