Use and File Procedure for Retail Products for Agriculture & Allied Activities

IRDAI vide ref. No. IRDAI/NL/CIR/PRO/146/07/2022 dated July 14, 2022 has issued a Circular on “Use and File Procedure for Retail Products for Agriculture & Allied Activities”. IRDAI has also issued a Press Release dated July 14, 2022 on the above stated subject.

The major highlights of the Circular are as follows:-

• IRDAI has now permitted general insurers to file Retail products for Agriculture & allied activities under the Use and File procedure.
• Accordingly, Para 7.2(I) and 7.2(III) pertaining to File and Use procedure and Use and File procedure respectively of Guidelines on Product Filing Procedures Guidelines, 2016 for General Insurance products stands modified.
• This circular shall come into effect immediately.
• New as well as revised products/add-ons covering Agriculture and allied activities filed with the Authority prior to the operation of this circular will be processed as per the current provisions.

Source category: IRDAI

Attachments

• /2022/65_Press_Release_-Ease_of_filing_Insurance_products_for_Agriculture_and_all___.pdf
• /2022/65_USEAND~11.PDF