বীমা উন্নয়ন ও নিয়ন্ত্রক কর্তৃপক্ষ বাংলাদেশ এ নিয়োগ বিজ্ঞপ্তি | Insurance Development & Regulatory Authority Jobs

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    Insurance Development & Regulatory Authority Jobs

     

    IDRA has been formed under the provision on IDRA Act 2010 on 26th January in 2011. Government of Bangladesh has enacted the Insurance Act 2010 to develop and regulate the insurance business. IDRA has established for the purpose of supervising the insurance business and safeguarding the interest of policy holder. The authority is working for the systematic development and regulation of insurance industry with a view to implement the ‘The National Insurance Policy 2014.

    IDRA, consisting by one Chairman and four Members, some Executive Directors and Directors carrying the different functions of the authority.

    The authority is assigned by the Insurance Development and Regulatory Authority Act 2010 to control the institution relating to insurance and re-insurance industry to encourage the development of insurance industry. Providing registration and certificate of insurer, re-insurer, mediator and renewal, amendment, removal withheld or cancellation of such registration are the mandate of IDRA. Inspection, inquiry and investigation of insurance institutions, developing new policies, controlling the fund and investment, maintenance of solvency margin and determining the proposed premium rate, giving advantage to insurer, settlement of dispute or claim and providing the procedure for preparing actuarial reports are the major responsibility of IDRA

    The Insurance Development & Regulatory Authority (IDRA) is the regulatory body responsible for overseeing and regulating the insurance sector in Bangladesh. It plays a key role in ensuring the development, supervision, and smooth functioning of the insurance industry within the country.

    Key Functions of IDRA:

    1. Regulation & Supervision: IDRA regulates the activities of insurance companies to ensure they operate within the legal framework, adhere to industry standards, and maintain financial stability.

    2. Policy Formulation: It is involved in formulating and implementing policies that guide the operations of both life and non-life insurance companies in Bangladesh.

    3. Licensing & Registration: IDRA issues licenses for insurance companies, agents, brokers, and adjusters. It also ensures that only those who meet the regulatory requirements can operate within the industry.

    4. Market Development: It works towards increasing the penetration of insurance services in Bangladesh, promoting public awareness about the benefits of insurance, and encouraging healthy competition among insurers.

    5. Consumer Protection: One of the key functions is to protect the rights and interests of policyholders. IDRA ensures that insurance companies fulfill their obligations to customers and settle claims in a fair and timely manner.

    6. Monitoring Financial Health: The authority monitors the financial performance of insurance companies, ensuring they maintain adequate solvency margins and comply with regulations regarding capital reserves.

    7. Dispute Resolution: IDRA also provides a platform for resolving disputes between insurers and policyholders, aiming to facilitate amicable settlements.

    Key Acts & Regulations:

    • Insurance Act, 2010: The primary law governing the operations of the insurance industry in Bangladesh.

    • Insurance Rules, 2015: A set of detailed rules that support the implementation of the Insurance Act and further regulate insurance businesses.

    Organizational Structure:

    IDRA is typically governed by a Chairman and supported by various divisions, such as:

    • Policy & Regulations Division

    • Licensing & Supervision Division

    • Market Development Division

    • Claims & Dispute Resolution Division

    Contact Information:

    You can typically contact IDRA for queries related to insurance policies, complaints, or regulatory concerns through their official channels or website.

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