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भारतीय बीमा विनियामक और विकास प्राधिकरण INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
Ref: IRDA/INT/CIR/INSRE/133/06/2017
Date: $8^{\text{th}}$ June, 2017
CIRCULAR
To
All Life, Health & General Insurers
Re: Status of Issuance of e-Insurance Policies
As you are aware that the Authority has notified the IRDAI (Issuance of e-Insurance Policies) Regulations, 2016 dated $13^{\text{th}}$ June, 2016.
In order to seek the status of compliance to the above Regulations, the Authority has designed quarterly & annual formats which are attached as Annexure I & Annexure II.
All the Insurers are therefore advised to submit the quarterly reports by $21^{\text{st}}$ of following month and yearly report by $30^{\text{th}}$ April of the following year, to the Authority.
This has been issued with approval of the Competent Authority.
Encl:
(Randip Singh Jagpal) CGM-Intermediary
परिश्रम भवन, तीसरा तल, बशीरबाग, हैदराबाद-500 004. भारत © : 91-040-2338 1100, फैक्स: 91-040-6682 3334 ई-मेल: irda@irda.gov.in वेब: 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
Annexure-I
IRDAI (Issuance of e-Insurance Policies) Regulations, 2016 (Quarterly Report on Schedule I)
Name of Insurer: Report for the --- Quarter: _________________________ Duration: from ____________ to ____________ Date of Submission:
Line of Business | Sum Insured* (equal to or exceeding) (in Rs.) | Single/Annual Premium* (equal to or exceeding) | Total number of Policies Issued by the end of Quarter (including offline & e-Insurance Policy) | Total number of e-Insurance Policies issued by the end of month Direct issue (a) | Through IRs (b) | Total e-Insurance Policies C=(a)+(b) Pure term (excluding term with ROP)** | 10,00,000/- | 10,000/- | | | | Other than Pure term (including term with ROP)** | 1,00,000/- | 10,000/- | | | | Pension policies | NA | 10,000/- | | | | Immediate Annuities (Pension p.a.) | NA | 10,000/- | | | | All retail General Insurance policies except Motor | 10,00,000/- | 5,000/- | | | | Individual Health | 5,000,000/- | 10,000/- | | | | Motor Retail | All policies | All policies | | | | Miscellaneous | Individual Personal Accident & Domestic Travel | 10,000,000/- | 5,000/- | | | | Individual Travel Insurance (Overseas) | All Policies | | | |
Annexure-II
IRDAI (Issuance of e-Insurance Policies) Regulations, 2016 (Annual Report on Schedule I)
Name of Insurer: Report for the FY: _________________________ Date of Submission:
Line of Business | Sum Insured* (equal to or exceeding) (in Rs.) | Single/Annual Premium* (equal to or exceeding) | Total number of Policies Issued by the end of FY(annual) (including offline & e-Insurance Policy) | Total number of e-Insurance Policies issued by the end of Year: 20-- Direct issue (a) | Through IRs (b) | Total e-Insurance Policies C=(a)+(b) Pure term (excluding term with ROP)** | 10,00,000/- | 10,000/- | | | | Other than Pure term (including term with ROP)** | 1,00,000/- | 10,000/- | | | | Pension policies | NA | 10,000/- | | | | Immediate Annuities (Pension p.a.) | NA | 10,000/- | | | | All retail General Insurance policies except Motor | 10,000,000/- | 5,000/- | | | | Individual Health | 5,00,000/- | 10,000/- | | | | Motor Retail | All policies | All policies | | | | Miscellaneous | Individual Personal Accident & Domestic Travel | 10,000,000/- | 5,000/- | | | | Individual Travel Insurance (Overseas) | All Policies | | | |
