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9. LEGAL AND COMPLIANCE

The employees in this department play an important role in

ensuring that the company is complying with all the

regulations and laws in the country. They develop the

policy forms, contracts for agents, etc., in line with the

existing rules and regulations and also advise the staff and

management on any legal issues. In case there is any

dispute arising out of a claim, the attorneys from the legal

department defend the company's position.

They identify potential legal and regulatory issues as soon

as possible and quickly and efficiently assess those issues to

develop a profile of potential legal risks;

They avoid and mitigate legal risks through proactive

initiatives such as compliance programs and dialogue with

government / regulatory officials responsible for

promulgation and/or enforcement of laws and regulations;

They manage legal risks as they materialize and hopefully

before they begin to adversely impact the insurer.

They also prepare responses to any cases at legal fora –

either Insurance Ombudsman or some court of law or an

arbitration panel. In India, they are Lok Adalat, Insurance

Ombudsman and Consumer court(s).

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