Get Started with ixamBee
Start learning 50% faster. Sign in now
Issuing revised guidelines applicable for remuneration payable to key managerial persons (KMPs) of private sector insurance companies from the current financial year, IRDAI has directed the insurers to complete the framing and reviewing of their remuneration policies based on these guidelines within three months. According to the revised guidelines, the minimum parameters which an insurance company should take into account for the determination of performance assessment of all KMPs for payment of variable pay or incentives are overall financial soundness such as net-worth position, solvency, growth in AUM and net profit, compliance with expenses of management (EoM) regulations, claim efficiency in terms of settlement and outstanding, among others. These parameters should constitute at least 60% of the total weightage in the performance assessment matrix of MD/CEO/WTDs (whole-time director), and at least 30% of the total weightage in the performance assessment matrix of other KMPs individually. Variable pay shall be at least 50% of the fixed pay for the corresponding period and shall not exceed 300% of the fixed pay. Where variable pay is up to 200% of the fixed pay, a minimum of 50% of the variable pay shall be via a non-cash instrument. The same limit would be 70%, in case the variable is above 200% of the fixed pay, adding a minimum of 50% of the total variable pay must invariably be under deferral arrangements and the deferral period should be a minimum of three years.
Which country emerged victorious in the 2024 SAFF U-17 Championship held in Bhutan?
Specialized software used to locate and retrieve information online is known as:
In which type of communication can both parties transmit data simultaneously?
The pathway for transferring instructions between the processor and memory is _______.
Recently who among the following was re-elected general secretary of the 20th Central Committee of the Communist Party of China (CPC)?
Which of the following is a program that uses a variety of different approaches to identify and eliminate spam?
In which of the following topology computers and devices are connected to a closed loop cable?
Which of the following is the largest storage?
According to the Knight Frank report Prime Global Cities Index Q1 2023,which city has gained the 6th spot among 46 cities globally in terms of annual pr...
Checking if computer components are properly connected and functioning is part of _______.
