Page 51 - Insurance Times May 2022

4.4. The circular ref. Actl/AA/Circular dated 11.08.2003 MISC/237/09/2020 dated 10th September, 2020 and further
regarding standard format for appointment letter extension granted vide Ref:IRDAI/NL/CIR/MISC/064/03/
of Appointed Actuary is repealed. 2021dated 24th March, 2021 and Ref: IRDAI/NL/CIR/MISC/
5. Applicability to reinsurers: For any circulars mentioned 247/09/2021 dated 13th September, 2021 on the above
in paras 3-4 that were applicable to reinsurers subject.
immediately before the date of this circular, the It has now been decided by the Authority to further extend
corresponding repeals / modifications mentioned in the dispensation allowed for proposal in physical form and
paras 3 and 4 shall also be applicable to reinsurers. wet signatureon the proposal form upto the period 30/09/
2022.
6. The Authority may call for any documents or
information from insurers as and when required. However, the exemption granted to insurers in respect of
issuing of policy document in the physical form stands
(P K Arora) withdrawn.Hence, the physical form of policy document shall
Member (Actuary) also be issued in addition to electronic policies.
Open House at IRDAI All other contents of the circular dated 10th September,
2020 remain unaltered.
April 12, 2022
(Yegnapriya Bharath)
1. It has been decided by Insurance Regulatory and Chief General Manager (Non-Life)
Development Authority of India (IRDAI) to hold an Open
House for all the regulated entities. Extension of timelines for Dispensing with
2. The Open House is intended to invite suggestions from Physical documents and wet signature on
all the regulated entities for achieving the overall
objective of increasing insurance penetration in the the proposal form in respect of health
country and to work towards resolution of impediments insurance policies
hindering the process.
IRDAI/HLT/REG/CIR/57/03/2022
3. The Open House would be held at the Head Office of 31st March, 2022
IRDAI at 3 PM on 15th of every month henceforth. If
15th happens to be a holiday, the Open House will be 1. Reference is drawn to the circulars Ref. No: IRDAI/HLT/
held at 3 PM on the next working day. Chairperson, REG/CIR/235/09/2020 dated 10.9.2020, Ref. No. IRDAI/
IRDAI and, in his/her absence, the senior most Whole- HLT/REG/CIR/062/03/2021 dated 24.3.2021 and Ref. No.
time Member along with senior officials of IRDAI will IRDAI/HLT/REG/CIR/248/09/2021 dated 14.9.2021 issued
be present. on (a) Issuance of electronic policies and (b) dispensing with
4. All the regulated entities are requested to make use of physical and wet signatures on the proposal form in
this initiative to interact with the Chairperson,Whole- respect of health insurance policies permitting insurers to
time Members and senior officials of IRDAI and offer issue electronic health insurance policies and dispensing of
pragmatic solutions to reduce significant insurance wet signatures on proposal forms in respect of all health
penetration gap in our country. insurance policies up to 31.3.2022.

5. The interested regulated entities may register their 2. It has now been decided by the Authority to extend the
interest to participate on the e mail - sdd@irdai.gov.in facilitation of dispensing with physical signatures and wet
by making a captioned subject “ Open House at 15th”by signature on proposal forms in respect of health insurance
10th of every month. policies for a further period of SIX (6) months i.e up to the
period 30.9.2022.
(a) Issuance of Electronic Policies and (b) 3. Further, it is clarified that the facilitation exempting
Dispensing with physical documents and insurers from issuance of policy documents in physical form,

wet signature on the proposal form granted under proviso to Regulation 4 (iii) of IRDAI
(Issuance of e-insurance policies) Regulations, 2016, is no
IRDAI/NL/CIR/MISC/060/03/2022 longer extended.
Date: 31st March, 2022 4. All other contents of the above circular remain unaltered.

This has reference to IRDAI circulars Ref: No. IRDA/NL/CIR/ General Manager (Health)

The Insurance Times, May 2022 51