Just 15 days past a regulatory audit being initiated against him, the chairperson of Sonali Life Insurance has informed that its board of directors had suspended its chief executive officer (CEO) yesterday over allegations of misappropriating funds.
Every insurance company must have consumer protection and complaint settlement committees comprised of those on the board of directors, according to the draft insurance policyholder protection guidelines.
IDRA has ordered Fareast Islami Life Insurance Company Limited not to spend anything from its premium income, income from investment and life fund if it fails to settle claims of policyholders by this month