IRDAI to tighten norms for media campaigns by insurers – The Insurance Regulatory and Development Authority of India (IRDAI) can tighten norms for insurance advertisements by assigning higher responsibility to the senior management of insurers in designing and approving media campaigns, for product promotion.
- Each insurer will have to constitute an advertisement committee comprising at least three members mandatorily from the marketing, actuarial and compliance functions of the insurer under the proposed amendment.
- The purpose of the amendment is to assign higher responsibility on the senior management while designing and improving the advertisement for the consumption of the customers.
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