{"id":13024,"date":"2022-01-03T20:50:55","date_gmt":"2022-01-03T15:20:55","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-irdai-remuneration\/"},"modified":"2022-01-04T09:47:59","modified_gmt":"2022-01-04T04:17:59","slug":"biz-irdai-remuneration","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-irdai-remuneration\/","title":{"rendered":"Irdai to modify norms for remuneration of CEOs, directors of pvt insurers"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-329975051\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Jan 3 (PTI) Regulator Irdai on Monday proposed to modify the guidelines on remuneration of non-executive directors, managing directors, CEOs and whole-time directors of private insurance companies with a view to check excessive risk taking behaviour of top executives.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2235520461\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> As per the proposed guidelines, the remuneration of chief executive, managing directors and whole time directors will be divided between fixed pay, perquisites and variable pay.<\/p>\n<p> Also, the fixed pay should be reasonable and all the fixed items, including perquisites, should be treated as part of fixed pay, as per Irdai&#8217;s exposure draft.<\/p>\n<p> Irdai has sought comments on the exposure draft of &#8216;Guidelines on Remuneration of Non-Executive Directors and Managing Director\/Chief Executive Officer\/Whole-time Directors of Insurance companies&#8217; by January 19.<\/p><div class=\"trade-content_5\" id=\"trade-3242612166\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> It further proposed that the non-executive directors will be entitled to a remuneration of up to Rs 20 lakhs per annum, in addition to sitting fee and other expenses.<\/p>\n<p> &#8220;Apart from sitting fee and other expenses, it provides for payment of remuneration commensurate with an individual director&#8217;s responsibilities and demands on time, which are considered sufficient to attract qualified competent individuals, in the form of fixed remuneration.<\/p>\n<p> &#8220;Such remuneration, however, shall not exceed Rs 20 lakh per annum for each such director excluding Chairman,&#8221; it said.<\/p>\n<p> As regards chairman of the board, the proposed guidelines said the remuneration may be decided by the board of directors of the respective company.<\/p>\n<p> The non-executive director will not be eligible for employee stock ownership plans (ESOPs).<\/p>\n<p> Prior approval of Irdai will be needed for any allotment of sweat equity to a non-executive director.<\/p><div class=\"trade-content-10\" id=\"trade-3774912800\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The remuneration for the whole-time directors, chief executive and managing directors will be divided between fixed pay, perquisites and variable pay.<\/p>\n<p> &#8220;Fixed Pay should be reasonable and all the fixed items, including perquisites, shall be treated as part of fixed pay,&#8221; said the draft guidelines.<\/p>\n<p> The guidelines also stipulate the norms for computation of variable pay.<\/p>\n<p> The deferred remuneration, it added, should be subject to malus\/clawback arrangement in case of any negative trend in the performance of the insurer. PTI NKD CS  ABM ABM<\/p>\n<div class=\"trade-after-content\" id=\"trade-2183469769\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Jan 3 (PTI) Regulator Irdai on Monday proposed to modify the guidelines on remuneration of non-executive directors, managing directors, CEOs and whole-time directors of private insurance companies with a view to check excessive risk taking behaviour of top executives. As per the proposed guidelines, the remuneration of chief executive, managing directors and whole [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-13024","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Irdai to modify norms for remuneration of CEOs, directors of pvt insurers - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-irdai-remuneration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Irdai to modify norms for remuneration of CEOs, directors of pvt insurers\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Jan 3 (PTI) Regulator Irdai on Monday proposed to modify the guidelines on remuneration of non-executive directors, managing directors, CEOs and whole-time directors of private insurance companies with a view to check excessive risk taking behaviour of top executives. 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