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The Insurance Regulatory and Development Authority of India sets filing time limits for returns under Regulation 21 of the IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015. All general insurers must submit the annual policy copy within ninety days from the beginning of the financial year. Insurers must submit the quarterly report on misconduct within forty-five days from the end of the quarter. Insurers must submit the half-yearly report on claims within forty-five days from the end of the half-year. If no change occurs in the policy, insurers must still inform the Authority within the prescribed time limit.
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[Image omitted. See the official document.]
CIRCULAR
Ref: IRDA/SUR/CIR/MISC/222/09/2017
21st September, 2017
To
All General Insurers
Re: Time limit for filing Returns under Regulation 21 of IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015
Attention is drawn to the provisions of IRDAI (IIISLA) Regulations, 2015 wherein insurers are required to submit the Annual policy and Quarterly/Halfyearly returns.
In this regard, insurers are advised to submit the documents as per the following time frame.
| Sr.No | Name of the Report | Time Limit |
|---|---|---|
| Reg. 21(1) | Copy of the Annual Policy formulated by the Company | Within 90 days from the beginning of the FY |
| Reg. 21(3) | Quarterly report on misconduct of licensed surveyors | Within 45 days from the end of quarter |
| Reg. 21(4) | Half Yearly report on claims | Within 45 days From the end of half year |
It is also clarified that even if there is no change in the policy, the Authority should be informed within the time limit prescribed to be in compliance with the above said Regulations.
[Image omitted. See the official document.]
(Suresh Mathur)
Executive Director
परिश्रम भवन, तीसरा तल, बशीरबाग, हैदराबाद - 500 004. भारत.
(): +91-40-2338 1100/300, फैक्स : +91-40-6682 3334
वेबसाइट : www.irdai.gov.in
Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad - 500 004. India.
(): +91-40-2338 1100/300, Fax : +91-40-6682 3334
Website : www.irdai.gov.in
