Statutory Boost

In view of COVID 19 pandemic, IRDAI had granted exemption to insurers from the requirement of  (a) Issuance of Electronic Policies and  (b) dispensing with physical documents and wet signature on the proposal form  till 31st March, 2021 via  Circular No. IRDAI/HLT/REG/CIR/235/09/20 dated 10th September, 2020 . Further, this time limit was further extended till 30th September, 2021 via  Circular No. IRDAI/HLT/REG/ CIR/062/03/2021 dated 24th March, 2021 . Now, this time limit has now further been extended upto 31st March, 2022 via  Circular No.IRDAI/HLT/REG /CIR/ 248/09/2021 dated 14th September, 2021 . This extension was granted in respect of the following : All Motor Insurance policies Fire Insurance policies covering Dwellings and/or contents thereof issued to individuals All package insurance policies issued to individuals (e.g. package policies for Dwellings) All Miscellaneous policies issued to individuals where the Sum Insured does not exceed Rs. 5 Cr...

Considering the prevailing pandemic situation due to COVID, all insurance intermediaries are allowed additional time upto 31 st May, 2021 to file all returns due  on 31 st  March 2021.   For IRDAI circular, click  here.   Feel free to contact in case of any query or consultation.          +91-7417634371

Insurance Regulatory and Development Authority of India (IRDAI) has provided a big relaxation to all the policyholders by mandating the cashless facility at all the hospitals who have signed the Service Level Agreements (SLA) with insurers. In case of denial, they have provided with Email id and complaint registration form of Grievance Redressal Cell.  As per press release:  All  the Network Providers ( hospitals ) who have signed  Service Level Agreements  (SLA) with general and health insurers have to mandatorily provide  cashless facility  for any treatment to the policyholders including  Covid-19 treatment  in accordance with agreed provisions of  SLA and terms and conditions of policy contract . Therefore all policyholders that are entitled to cashless facility at all such network providers (hospital) with whom the Insurance company/TPA has entered into an agreement shall avail the benefit of cashless treatment. In the event of den...