IRDAI forms group to study loss prevention

IRDAI (Insurance Regulatory and Development Authority of India) has constituted a 10-member working group (WG) headed by T. L. Alamelu to make recommendations for loss prevention & minimization in the general insurance industry. It should submit its report within 12 weeks.
The working group have members including National Insurance Academy Director G.Srinivasan, General Insurance Council Secretary General M.Nagaraja Sarma, Insurance Brokers Association of India Vice President S.K.Jain as well as officials from both public & private general insurers.
The group will examine current practices followed by insurance industry in the area of Loss Prevention and suggest segment-wise ways to coordinate all stakeholders towards a common end on a common platform.
The group also mandates to give recommendations for promoting research, education and services related to Loss Prevention & Mitigation. Group shall submit a report containing its recommendations of the date of this order.
IRDAI is an autonomous body constituted to regulate and develop insurance business in India and headquartered in Hyderabad.
Subhash Chandra Khuntia is the Chairman of IRDAI.