News Details

Insurance firms asked to avoid transport luxury


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  The insurance regulator has directed the insurance companies to shun luxury in buying and using vehicles as it causes loss to the interest of policy and share holders.

Insurance Develop-ment and Regulatory Authority (IDRA) issued a circular Wednesday with this directive.

The circular announced new guidelines for trans-portation and vehicular uses of the Chairmen and Chief Executive Officers (CEO) along with other uses of the life and non-life insurance firms.

It said that the vehicles for the Chairmen and CEO or managing directors have to be bought within Tk 4 million.

Besides, the Chairmen will get only one car and no other members of the board will not get any transport facility.

[ Business ] 2012-07-26