Two members of the parliamentary economic committee were selected on Sunday to supervise the operations of the Supreme Council of Insurance (SCI). In an open session, Nasser Mousavi Largani and Mohsen Sarami won 119 and 101 votes, respectively, according to Deputy Parliament Speaker Mohammad Reza Bahonar. Abouzar Nadimi and Mohammad Alipour were two other candidates for the positions, but Nadimi lost and Alipour canceled his candidacy before the vote session, IRNA reported. The Central Insurance of Iran is the regulator in the industry, but the SCI is in charge of seeing if applicants are eligible to receive the operation permit from the CII. The council also supervises insurers' performance if their permits are to be revoked. It also determines the general conditions of insurance transactions such as the amounts of commission fees and insurance premiums.
