Conflicts of Interest :

Auditors, Directors, Actuaries and other key managerial personnel are prohibited from holding positions which are conflicting with each other. This is to ensure that the business decisions are taken without any bias. For example, the Appointed Actuary cannot take responsibilities of Claims function, since Appointed Actuary is required to evaluate the impact of the variance between with actual and expected claims and the impact on the Company. Similarly the Statutory auditors of the Company cannot have any other contract with pecuniary interest in the Company, as this could conflict with rendering the audit services.