In a recent circular (Ref. No. IRDA/INT/CIR/INSRE/133/06/2017) dated 8th June, 2017, the Insurance Regulatory and Development Authority of India (IRDAI) has issued quarterly and annual formats , to check on the status of compliance with the IRDAI (issuance of e-Insurance Policies) Regulations, 2016 (Regulations 2016) by all Life, Health and General Insurers.
The IRDAI had previously notified the Regulations, 2016, on 1st October, 2016, for the issuance of electronic policy and submission of electronic proposal form of insurance policies. In connection with the Regulations 2016, the Authority has designed quarterly and annual formats which need to be submitted before the Authority in Annexure I and Annexure II respectively.
In connection with this circular, the timelines to submit the quarterly report and the annual report have been provided below for reference.
|1||Quarterly Reports (Annexure I)||21st of the following month.|
|2||Annual Reports (Annexure II)||30th April of the following year.|