IDRA Chairman and former secretary of the government M Aslam Alam on Thursday said as part of the ongoing process of repair and reform of the state system, changes will also be made in the insurance sector business in protecting the national interest.
There is no alternative to concerted efforts of all stakeholders and sincerity of the insurance development and regulatory authorities to create a positive attitude towards insurance and restore people's confidence.
The Insurance Development and Regulatory Authority (IDRA) Chairman made the remarks while exchanging views with the chief executive officers of non-life insurance companies at the IDRA office, Dilkusha in the capital.
All the members of IDRA, Executive Directors, Directors, Deputy Directors, representatives of General Insurance Corporation and Chairman and Chief Executive Officers of non-life insurance companies were present in the meeting.
Top executives expressed that if the major obstacles of non-life insurance business such as practice of paying excess commission, lack of good relationship with general insurance corporation, stoppage of motor insurance due to road laws, lack of awareness of some insurance companies and public etc are possible to overcome, the non-life sector insurance will see rapid progress and growth.
Chief executive officer of Asia Insurance Limited M.D. Imam Shaheen, Chief Executive Officer of Green Delta Insurance Plc Farzana Chowdhury, Vice Chairman of Pragti Insu. Limited Tabith Awal, Vice Chairman of Karnaphuli Insurance Company Limited Nasir Uddin Ahmed Pavel and Chairman of Global Insurance Limited Saeed Ahmed spoke on the occasion.
