The Norms Set By It For The Discharge Of Its Functions

The Company has well defined procedure and guidelines for discharge of various functions as under:

Delegation of Powers:

The officers of the company at various levels discharge their functions & responsibilities within the powers delegated to them by the Board of Directors as per Financial Standing Order-1997 as amended from time to time.

The delegation of powers is subject to observance of Memorandum of Association Articles of Association relevant policy guidelines and administrative instructions of the company and should not infringe the Companies Act Insurance Act GIBN Act IRDA Act Govt. Guidelines and any other statutory/regulatory requirement.

Laid down Policies and Guidelines:

The United India Insurance Company Limited is having laid down policies and guidelines governing major activities of the Company. While discharging the functions the officers need to follow these laid down policies and guidelines.

Manuals:

The United India Insurance Company Limited has procedural manual for most of its activities. These Manuals ensure carrying of activities in a systematic and standardized manner. While discharging the functions covered by these Manuals the officers need to follow the provisions of these Manuals.

Guidelines of Insurance Regulatory & Development Authority:

The United India Insurance Company Limited (being a Public Sector Insurance Company) follows the guidelines of IRDA issued from time to time.

Guidelines of Chief Vigilance Commission:

The United India Insurance Company Limited (being a Public Sector Insurance Company) follows the guidelines of Central Vigilance Commission (CVC).

Compliance of Provisions of Statutes etc.:

While discharging the respective functions officers are required to comply with the applicable provisions of Indian Constitution Statues and Rules & Regulations.