Constitution of Committee for Motor TP Pricing for the year 2019-20

The Authority has decided to constitute a committee to examine matters relating to Motor Third Party pricing and make recommendations on pricing for the year 2019-20. The Committee shall consist of the following:

1. Shri.P.J.Joseph, Member (Non-life), Chair
2. Dr.N.Srinivasa Rao, Economic Adviser, Department of Financial Services, Ministry of Finance, Govt of India, Member
3. Shri.Paresh Kumar Goel, Director, Ministry of Road, Transport and Highways, Member
4. Shri.Arvind Shenoy, Head, Technical, General Insurance Council, Member
5. Shri.J.K.Garg, General Manager, The New India Assurance Company Limited, Member
6. Shri.A.K.Sisodia, DGM, The Oriental Insurance Company Limited, Member
7. Shri.Pankaj Jain, Head, Motor, Bajaj Allianz General Insurance Company Ltd, Member
8. Shri. J.V.Prasad, ICICI Lombard General Insurance Company Limited, Member
9. Shri.R.Arunachalam, Appointed Actuary, Cholamandalam MS General Insurance Company Limited, Member
10. Shri.Jacob Thomas, Motor Vertical In-charge, Insurance Information Bureau of India, Member
11. Shri.S.K.Mittal, President, All India Motor Transport Congress (AIMTC) as Main Member and Shri.Mukesh Dave, Vice President,  as Alternate Member
12. Shri.D.R.Dharmaraj Bala, Additional Secretary, Bus Operators Confederation of India, Member
13. Shri.Nitin G.Dossa, President, Federation of Indian Autormobile Associations, Member
14. Shri. Ashim Sanyal, Chief Operating Officer, ‘Consumer Voice’, Member
15. Shri.S.P.Chakraborty, General Manager, Actuarial Department ,IRDAI, Member
16. Smt.Yegnapriya Bharath, Chief General Manager, Non-life Department, IRDAI, Member-Convener

The Terms of Reference of the Committee are as follows:

1. Examine Motor Third Party Insurance pricing aspects including data related, and recommend prices for the year 2019-20.
2. Revisit the classification of vehicles keeping in view the latest developments in the industry.
3. Any other matter relevant to Motor Third Party pricing.

The Committee will have a tenure till 31.12.2018.

This has the approval of the Competent Authority.

(Yegnapriya Bharath)

Chief General Manager (Non-Life)

Source  : IRDAI