Inclusion of Farmer Producer Company (FPC) in the list of Micro Insurance A

• ll ~Hal~ itif1 Pctf.1~1,Hfi 3ITT fct&il~ ~ INSURANCE REGULATORY AND inlai DEVELOPMENT AUTHORITY OF INDIA No. IRDA/LIFE/CIR/MIN/o'J!/04/2017 April 26, 2017 CIRCULAR To All Insurers, Re: Inclusion of "Farmer Producer Company (FPC) in the list of Micro Insurance Agent" Reference is invited to Regulation 2 (f) of IRDAI (Micro Insurance) Regulations 2015 (Regulations) which defines a "Micro-insurance Agent". Based on the feedback of the Insurers, it has been decided by the Competent Authority to include the "Farmer Producer Companies (FPC)" registered under Companies Act, 2013 (reference: Section 465 (1) of the Companies Act, 2013 and Part IX A of Companies Act, 1956) in the list of "Micro Insurance Agents". This Circular is issued by exercising the powers vested under Regulation 14 (2) (e) of IRDA Act, 1999 and comes into force with immediate effect. (Nilesh Sathe) Member (Life) .. "Clft-Wl ,:JcR, cftml(K1, iil:tn<iill'I, ~-500 004. m«f ({) : 91-040-2338 1100, ~: 91-040-6682 3334 t-i@: irda@irda.gov.in im: www.irda.gov.in Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334 E-mail : irda@irda.gov.in Web.: www.irda.gov.in