Now the days, protection of the Investors' wealth is big challenge before the Government. In insurance sector, under IRDA's Regulation, various committees are mandatorily required to be constituted by the Companies. High

IRDA advises all insurers that it is mandatory to establish Committees for Audit, Investment, Risk Management, Policyholder Protection, Nomination and Remuneration, Corporate Social Responsibility (only for insurers earning profits). Following are the names of few committees: Audit Committee (mandatory) Investment Committee (mandatory) Risk Management Committee (mandatory) Policyholder Protection Committee (mandatory) Nomination and Remuneration Committee (mandatory) Corporate Social Responsibility Committee ('CSR Committee') (mandatory) With Profits Committee: With Profits Committee The Authority has issued IRDA (Non-Linked Insurance Products) Regulations 2013, which lay down the framework about the With Profit Fund Management and Asset sharing, among other things. In terms of these Regulations, every Insurer transacting life insurance business shall constitute a With Profits Committee comprising of an Independent Director, the CEO, The Appointed Actuary and an independent Actuary. The Committee shall meet as often as is required to transact the business and carry out the functions of determining the following: The share of assets attributable to the policyholders. The investment income attributable to the participating fund of policyholders. The expenses allocated to the policyholders. The report of the With Profits Committee in respect of the above matters should be attached to the Actuarial Report and Abstract furnished by the insurers to the Authority.