Financial Daily from THE HINDU group of publications
Monday, Mar 13, 2006
Financial Daily from THE HINDU group of publications Monday, Mar 13, 2006 |
|
|
|
|
|
|
|
Opinion
-
Letters Cost of actuaries
This refers to the article "High cost of actuaries worries IRDA" (Business Line March 9). Middle-aged actuaries with years of experience of conducting periodical valuations are a rare commodity because of the historical HRD policies pursued by state-owned insurers. It will take several years for young, full-fledged actuaries to come up so that insurers — the public and private sector — can use them for a variety of functions that require specialised actuarial expertise and talent. Meanwhile, the regulator and the insurers will have to use the services of actuaries that are available. It is also strange to find that a member of the IRDA — the insurance regulator — should be of the view that the regulations have caused tremendous powers to accrue to the actuary. It is only a powerful, independent and well-paid actuary who can ensure that the management of the company does not follow adventurist policies and fritter away the funds of the policyholders. They should invest prudently to maximise returns for the policyholders, and ensure that product pricing is fair and reasonable. S. Subramanyan
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
More Stories on : Letters | Life Insurance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|