{"id":510,"date":"2010-01-28T17:24:43","date_gmt":"2010-01-28T11:54:43","guid":{"rendered":"http:\/\/ivyproschool.com\/blog\/?p=510"},"modified":"2024-11-13T15:20:21","modified_gmt":"2024-11-13T09:50:21","slug":"indian-actuaries-to-be-given-a-greater-role-in-risk-firms","status":"publish","type":"post","link":"https:\/\/ivyproschool.com\/blog\/indian-actuaries-to-be-given-a-greater-role-in-risk-firms\/","title":{"rendered":"INDIAN ACTUARIES TO BE GIVEN A GREATER ROLE IN RISK FIRMS"},"content":{"rendered":"<p style=\"text-align: justify;\">In a recent circular IRDA (The Insurance Regulatory and Development Authority of India) has stated,<\/p>\n<p style=\"text-align: justify;\"><em>\u201cWe have reached a situation where the role of appointed actuaries has to be enhanced significantly so that general insurers are in a position to cope with public demand for non-life products and at the same time ensure the availability of solvency on a continuous basis.\u201d<\/em><\/p>\n<p style=\"text-align: justify;\">They have called for actuaries to play a greater role in general insurance companies and have mandated that appointed actuaries should be called for all board meetings. The actuary will have to help the insurer to ensure the availability of required solvency, must inform the board wherever deficiency is noticed in solvency margins and are responsible for informing the regulators if relevant action is not taken. The appointed actuary will also be responsible for preparing the financial condition report \u2013 guidelines will be issued by IRDA in the near future.<\/p>\n<p style=\"text-align: justify;\">Source: <a href=\"http:\/\/www.gaapsblog.com\/\">www.gaapsblog.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent circular IRDA (The Insurance Regulatory and Development Authority of India) has stated, \u201cWe have reached a situation where the role of appointed actuaries has to be enhanced significantly so that general insurers are in a position to cope with public demand for non-life products and at the same time ensure the availability of solvency on a continuous basis.\u201d They have called for actuaries to play a greater role in general insurance companies and have mandated that appointed actuaries should be called for all board meetings. The actuary will have to help the insurer to ensure the availability of required solvency, must inform the board wherever deficiency is noticed in solvency margins and are responsible for informing the regulators if relevant action is not taken. The appointed actuary will also be responsible for preparing the financial condition report \u2013 guidelines will be issued by IRDA in the near future. Source: www.gaapsblog.com<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-510","post","type-post","status-publish","format-standard","hentry","category-data-analytics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indian Actuaries to Be Given a Greater Role in Risk Firms.<\/title>\n<meta name=\"description\" content=\"IRDA mandates actuaries in general insurance companies to enhance their role, ensuring solvency and supporting financial reporting for better risk management.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ivyproschool.com\/blog\/indian-actuaries-to-be-given-a-greater-role-in-risk-firms\/\" 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