CORPORATE GOVERNANCE AND CODE OF ETHICS
In the absence of uniform policies,standard and code of ethics it is difficult to find acceptable behaviour within the organization.
The success of the insurance companies will be measured not just in terms of profits earned or rates of returns but equally the quality of corporate governance.
The issue of corporate governance assumes added significance in the insurance sector on account of the following factors:
(a) Since large public funds are involved,there is greater need for transparency of financial management.
(b) Worldwide,there is a strict move towards securing strict adherence to high standards of disclosure and compliance.
(c) Operations like pricing,risk management,investment decisions need to be more transparent.
In the absence of uniform policies,standard and code of ethics it is difficult to find acceptable behaviour within the organization.
The success of the insurance companies will be measured not just in terms of profits earned or rates of returns but equally the quality of corporate governance.
The issue of corporate governance assumes added significance in the insurance sector on account of the following factors:
(a) Since large public funds are involved,there is greater need for transparency of financial management.
(b) Worldwide,there is a strict move towards securing strict adherence to high standards of disclosure and compliance.
(c) Operations like pricing,risk management,investment decisions need to be more transparent.