Document Detail

Title: Exposure Draft
Reference No.: --
Date: 16/04/2015
IRDAI (Common Service Centre) Regulation, 2015
Insurance Regulatory and Development Authority of India
(Intermediaries Department)
 
13th April, 2015
 
Consequent upon promulgation of Insurance Laws (Amendment) Act, 2015, common service centres are included in the definition of intermediary and insurance intermediary. As a result of the amendments in the Act the existing Guidelines on Common Service Centres will have to be converted into Regulations. The draft contains, amongst the others, the following changes.
 
1)   Definition of CSC product
2)   Code of Conduct for CSC-SPV
3)   On boarding charges
4)   Procedure and conditions applicable for Life and General Insurance products
5)   Appeal to SAT on the orders of the Authority
6)   Minor grammatical changes to bring consistency  
 
The draft regulations along with schedules are attached with this document and the same are uploaded on our website for seeking comments/suggestions/views from all stakeholders for consideration of the Authority before the notification. The comments/suggestions should reach us by 21st April, 2015 in the format attached as Annexure-1, to the undersigned by e-mail at randip at irda dot gov dot in and also to my colleagues Sh. Sanjay Verma at sanjay at irda dot gov dot in
 
 
(Randip Singh Jagpal)
Sr. Joint Director
13.4.2015

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