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Insurance brokers and insurers receive a clarification that client mandates communicated through an electronic form satisfy the written mandate requirement under the IRDAI Insurance Brokers Regulations 2018. Section 4 of the Information Technology Act provides legal recognition for electronic records when they are available in an electronic form and accessible for subsequent reference. Insurance brokers must remember the provisions of Section 65 B of the Indian Evidence Act 1872 regarding the admissibility of electronic records.
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Ref No. IRDAI/BRK/ORD/MISC/216/12/2018
To 24th December, 2018
All Insurers & Insurance Intermediaries
Re: Clarification regarding electronic form of written mandate.
Regulations 27(4), 28(e) and 30(1) & (2) of IRDAI (Insurance Brokers) Regulations 2018 require written mandate from the clients to the insurance broker to represent them for the purposes mentioned in the said regulations.
The Authority has been receiving requests regarding the interpretation of the expression "written mandate" and seeking clarification whether a mandate communicated through an electronic form can be considered as "written mandate" under the above regulations.
In this regard, section 4 of Information Technology Act relating to 'Legal recognition of electronic records' states as under:
"where any law provides that information or any other matter shall be in writing or in the typewritten or printed form, then, notwithstanding anything contained in such law, such requirement shall be deemed to have been satisfied if such information or matter is-
Accordingly, the Authority, clarifies that a mandate communicated by a client to the insurance broker through an electronic form can be considered as "written mandate" within the meaning and scope of Regulations 27(4), 28(e) and 30(1) & (2) of IRDAI (Insurance Brokers) Regulations 2018.
In this regard the insurance brokers are also advised to bear in mind the contents of Section 65 B of the Indian Evidence Act 1872 relating to "admissibility of electronic records".
This has the approval of the Competent Authority.
[Image omitted. See the official document.] Member (Distribution)
सर्वे नं. 115/1, फाइनेंशिपल डिस्ट्रिक्ट, नानकरामगुडा, हैदराबाद-500 032, भारत | Survey No. 115/1, Financial District, Nanakramguda, Hyderabad-500 032, India (%) : +91-40-2020 4000 वेबसाइट : www.irdai.gov.in (%) : +91-40-2020 4000 Website : www.irdai.gov.in
