Dec 23, 2021

IRCSL DG to be sacked over covering up Allianz insurance scam? Featured

It is reported that the investigation probing into the allegation that the Director General of the Insurance Regulatory Commission of Sri Lanka (IRCSL) - Damayanthi Fernando had neglected the responsibilities of the Commission, has now been completed.

Investigations by the commission appointed for the task have found that Damayanthi's conduct was more aimed at protecting insurance companies than protecting the insured, 'Sri Lanka Mirror' learns.

This commission was appointed to look into the reasons why the IRCSL 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 IRCSL DG was directly accused of neglecting responsibilities.

The commission appointed to probe the matter was chaired by Deputy Secretary to the Treasury - R.M.P. Ratnayake. In addition, Deputy Governor of the Central Bank - T.M.J.Y.P. Fernando as well as IRCSL members - Harris Salpitikorala, Raja Gunaratne and Indra Baduge were among the commission members.

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

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

Accordingly, they hope to be able to serve 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 IRCSL - Rasik Zarook in the future.