T. S. Vijayan, the former LIC chief took over as the Chairman of the
Insurance Regulatory and Development Authority (IRDA) on 21 February
2013. Vijayan will succeed J. Hari Narayan. J. Hari Narayan completed
the five-year term on 20 February 2013.
The tenure for IRDA chairman is five years or till 65 years.
T.
S. Vijayan will take over as the Chairman of IRDA when the entire
industry is facing meltdown. The challenges which will be faced by him
include taking the insurance industry to rural areas as well as
simplifying the insurance products.
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