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The Insurance Regulatory and Development Authority of India extends the deadline for general insurers to file motor long term third party insurance, long term package covers, and bundled products under the File and Use Guidelines. General insurers requested more time due to technical issues with electronic filing in BAP. The authority sets the new filing deadline as 15th October 2018 under Section 14(2) of the IRDA Act 1999. Stand-alone health insurers and specialised insurers do not fall under this scope. All other contents of the previous circular dated 28th August 2018 remain in effect.
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[Image omitted. See the official document.]
Ref: IRDAI/NL/CIR/MOT/154/09/2018
19th September 2018
To
ALL GENERAL INSURERS (OTHER THAN STAND-ALONE HEALTH INSURERS AND SPECIALISED INSURERS)
Re: Filing of Motor Long Term Third Party Insurance /Long Term Package Covers /Bundled Products under the File and Use Guidelines
The Insurance Regulatory and Development Authority of India ('The Authority'), in terms of Circular ref: IRDAI/NL/CIR/MOT/137/08/2018 dated 28th August, 2018, had assigned Unique Identification Number (UIN) to Motor Long Term Third Party Insurance, Long Term Package Covers and Bundled Products based on the Letter of Intent filed by General Insurers to enable them to offer these covers effective 1st September, 2018. As per para 5(ii) and (iv) of the said Circular, the Insurers were required to file all such Products/Add-ons under the File and Use Guidelines before 15th September, 2018.
The Authority has been receiving representations from the General Insurers, requesting for extension of time to file the said Products/Add-ons, citing various reasons including technical issues encountered in electronic filing in BAP.
Having regard to the concerns expressed by the Insurers, the Authority, in terms of Section 14(2) of IRDA Act 1999 hereby extends the last date of filing to 15th October, 2018.
All other contents of Circular dated 28th August, 2018 shall remain in effect.
[Image omitted. See the official document.]
(P.J.Joseph) Member (Non-life)
सर्वे नं. 115/1, फाईनैंशियल डिस्ट्रिक्ट, नानकरामगुडा, हैदराबाद-500 032, भारत | Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India (6) : +91-40-2020 4000 वेबसाइट : www.irdai.gov.in (6) : +91-40-2020 4000 Website : www.irdai.gov.in
