Regulatory commission head, who covered up Allianz insurance scam to be sacked?

It is reported that the investigation of the Commission appointed to look into the allegation that the Director General of the Insurance Regulatory Commission, Damayanthi Fernando, had neglected the responsibilities of the Insurance Regulatory Commission, has now been completed.

Investigations have found that Damayanthi’s behavior was more aimed at protecting insurance companies than protecting the insured, Sri Lanka Mirror learns.

This committee was appointed to look into the reasons why the Insurance Regulatory Commission did not pay attention to the social media information published in the past regarding issues such as Allianz Insurance fraud and non-payment of compensation as revealed by Sri Lanka Mirror.

The Director General of the Insurance Regulatory Commission was directly accused of neglecting its responsibilities.

Deputy Secretary to the Treasury R.M.P. Ratnayake is the Chairman of the Commission and the other members of the Commission are the Deputy Governor of the Central Bank, T. M. J. Y. P. Fernando, Harris Salpitikorala, Member of the Insurance Regulatory Commission, Raja Gunaratne, Member of the Insurance Regulatory Commission and Indra Baduge, Member of the Insurance Regulatory Commission.

Meanwhile, it is reported that if Damayanthi Fernando is found guilty of the relevant charges, she may lose her job.

Authorities are also reportedly considering appointing another commission to look into the frauds of insurance companies she has ignored.

Accordingly, they hope to be able to do justice to public complaints regarding matters including insurance fraud and non-payment of compensation.

Meanwhile, it is reported that an inquiry will also be held regarding the Chairman of the Insurance Regulatory Commission Rasik Zarook in the future.

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