Page 48 - Insurance Times February 2016
P. 48
Circular
IRDAI Circular
(Insurance Services by Common Service The registration shall be issued subject to the CSC-SPV
Centres) Regulations, 2015 adhering to the conditions and code of conduct as speci-
fied in Schedule IV.
Consequent upon promulgation of Insurance Laws (Amend-
ment) Act, 2015, common service centres are included in the A license granted to the CSC-SPV under the Guidelines
definition of intermediary and insurance intermediary. As a on Common Service Centres issued by the Authority shall
result of the amendments in the Act the existing Guidelines be valid till its expiry and shall thereafter apply for regis-
on Common Service Centres is converted into Regulations. tration as per Regulation 3.
The regulation contains the following:
1) Definition of CSC product The registration issued under these Regulations shall
be valid for a period of three years from the date of
2) Code of Conduct for CSC-SPV its issue, unless it is suspended or cancelled by the
Authority.
3) On boarding charges
For the purpose of solicitation of insurance business, Rural
4) Procedure and conditions applicable for Life and Gen- Authorized Person (RAP) is authorized.
eral Insurance products
CSC-SPV shall be responsible for all acts of commission
5) Appeal to SAT on the orders of the Authority and omission of the RAPs deployed on their behalf.
6) Minor grammatical changes to bring consistency Functions of CSC-SPV
Some of the points described in the regulation is a) CSC-SPV, on valid registration from the Authority to act
given below: as an insurance intermediary, may enter into agreements
with Insurers as specified in Regulation 14 of these regu-
"CSC-SPV" means M/s CSC e-Governance Services India Lim- lations.
ited, the Special Purpose Vehicle (SPV) incorporated to facili-
tate delivery of government, private and social sector ser- b) CSC-SPV shall assist the VLEs to undergo the prescribed
vices to citizens of India through the Common Services Cen- training and certification as specified in Schedule-I.
tres (CSCs) network, and approved by the Authority under
these Regulations, who for remuneration arranges insurance c) CSC-SPV may obtain the support of the service partner
contracts (under specific products approved by the Author- agency in training the VLE, providing operational and
ity) with insurers on behalf of its clients and offers other in- marketing support and guidance in field operations of
surance related services through CSC Network. the RAP as deemed fit. The agreement entered with the
insurers shall specify the details of the support enlisted.
Grant of Registration to the CSC-SPV: d) On successful completion of training and passing the pre-
scribed examination and based on the certificate issued
The Authority on being satisfied that the applicant fulfils by examination agency to a RAP, CSC-SPV shall enter
all the conditions specified for the grant of registration, into an agreement with the RAP authorising him to so-
shall grant a registration in Form-B and send intimation licit the approved insurance products.
thereof to the CSC-SPV.
48 The Insurance Times, February 2016
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