The insurance regulator has appointed National Insurance Company director Vasantha Krishna as the insurance ombudsman for Chennai in a move that also saw appointment for other regions, including Kochi, Hyderabad, Mumbai, Goa, Ahmedabad and Kolkata. With recent appointments, the Insurance Regulatory and Development Authority of India (IRDAI) has filled 10 of 16 vacant posts in India.
For Kochi, National Insurance chairman K Sanath Kumar; for Hyderabad, Oriental Insurance Company's retired director Sujay Banerji; for Mumbai and Goa, United India Insurance former CMD Milind Kharat and for Ahmedabad and Kolkata, retired LIC officials RG Shinde and Kirti Saha respectively have been appointed.
Both Sanath Kumar and Vasantha Krishnan will retire shortly and take up the new posts.
The ombudsman, who is mostly an insurance industry person with many years of service, would receive a salary of Rs 2,25,00 a month and pension. He also has the authority to adjudicate on personal lines of insurance in life, general and health insurance with compensation award up to Rs 30 lakh.
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