Obligations of Insurers to Rural and Social Sectors Formats for submission

• Jll ~,ufh~ "itlIT ~f.h11¥i~ '3fu ~~m ~ 11i1,1an INSURANCE REGULATORY AND ir.tai DEVELOPMENT AUTHORITY OF INDIA CIRCULAR IRDAI/Life/ MISC /CIR/ 130/06/2016 • June 30, 2016 To All the Insurers, Obligations of Insurers to Rural and Social Sectors Formats for submission of Annual Certificates Reference is invited to the Regulation 5.3 of the IRDAI {Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 which stipulates that "every insurer shall furnish an annual certificate by the Chief Executive Officer or the Principal Officer within ninety days from the end of the Financial Year submitting the actual business details of the obligations fulfilled towards these Regulations." 2. The Authority now specifies the formats for submission of Annual Certificates to be furnished by the Life Insurers, General and Health Insurers as required under the said Regulations. The Attached 'RSO Form A' is applicable for Life Insurers and 'RSO Form B' is applicable for General and Health Insurers. All the Insurers are required to submit the Annual Certificates only in the specified formats. 3. The required RSO Form A/RSO Form B has to be submitted by the Insurer to the respective Departments {Life, General and Health) of the Authority. 4. This Circular is issued by exercising the powers vested under Regulation 7 of IRDAI {Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. 5. This hi;is the approval of Chairperson of the Authority. 1lft.wp:rcr;:r, <'ffimW'I, o:tlln(o:tl'I, ~-500 004. ~ (() : 91-040-2338 1100, ~ : 91-040-6682 3334 i-~: irda@irda.gov.in ~: www.irda.gov.in e " r--_ • \.:Jl2-f n c5\ 4:t1 L - {V. Jayanth Kum~ Joint Director {Life) 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 RSO Form - A (For Life Insurers) Annual Certificate for the Financial Year (FY) _____ in terms of Regulation 5.3 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 Name of the Life Insurer Year of operation @ Age of the Insurer in years Table No.1 - Rural Sector Policies written Number of policies Rural sector Required % as Compliance with in the FY for covered under rural policies as % per the above the above which figures are sector to column (1) Regulations Regulations reported (Yes/No} (1) (2) (3) (4) (5) Table No.2 - Social Sector Total business * Number of lives covered Social sector Required% as Compliance with in the preceding under Social Sector in the lives as% to per the above the above Financial Year FY for which figures are the column (1) Regulations Regulations reported (Yes/No) (1) (2) (3) (4) (5) (* Total business as defined in the Note to Regulation 3.1 (B) of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. @ If it is first year of operation, refer proviso to Regulation 3 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015.) This is to certify that the Insurer has written the percentage of policies referred under 'Table No.1 - Rural Sector' above towards rural sector obligations as specified in Regulation 3.1 (A) of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. It is also certified that the Insurer has covered the lives referred under 'Table No.2 - Social Sector' above towards Social Sector obligations as specified in Regulation 3.1 (B) of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. I confirm that business reported towards rural sector complies with the definition specified under Regulation 2.3 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 and is in compliance /non-compliance (strike-out whichever is not applicable) with fulfilling obligations towards rural sector. I also confirm that business reported towards social sector complies with the definitions specified under Regulations 2.4, 2.5, 2.6, 2.7 and 2.8 of IRDAI (Obligations of Insurers to Rural and · Social Sectors) Regulations, 2015 and is in compliance/non-compliance (strike-out whichever is not applicable) with fulfilling obligations towards social sector. Date: Place: Chief Executive Officer/Principal Officer Name of the Insurer Company Seal RSO Form - B (For General/Health Insurers) · Annual Certificate for the Financial Year (FY) _____ in terms of Regulation 5.3 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 Name of the General/Health Insurer Year of operation @ Age of the Insurer in years Table No.1 - Rural Sector Gross premium for Amount of premium Rural sector Required% as Compliance the FY for which procured in Rural Sector premium as% per the above with the above figures are reported to column (1) Regulations Regulations (Yes/No} (1) (2) (3) (4) (5) Table No.2 - Social Sector Total business * in Number of lives Social sector Required % as Compliance the preceding covered under Social lives as % to the per the above with the above Financial Year Sector in the FY for column (1) Regulations Regulations which figures are (Yes/No} reported (1) (2) (3) (4) (5) (*Total business as defined in the Note to Regulation 3.1 (B) of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. @ If it is first year of operation, refer proviso to Regulation 3 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015.) This is to certify that the Insurer has written the percentage of gross premium referred under 'Table No.1 - Rural Sector' above towards rural sector obligations as specified in Regulation 3.1 (A) of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. It is also certified that the Insurer has covered the lives referred under 'Table No.2 - Social Sector' above towards Social Sector obligations as specified in Regulation 3.1 (B) of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015. I confirm that business reported towards rural sector complies with the definition specified under Regulation 2.3 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 and is in compliance /non-compliance (strike-out whichever is not applicable) with fulfilling obligations towards rural sector. I also confirm that business reported towards social sector complies with the definitions specified under Regulations 2.4, 2.5, 2.6, 2.7 and 2.8 of IRDAI (Obligations of Insurers to Rural and Social Sectors) Regulations, 2015 and is in compliance/non-compliance (strike-out whichever is not applicable) with fulfilling obligations towards social sector. Date: Place: Chief Executive Officer/Principal Officer Name ofthe Insurer Company Seal