Page 52 - Insurance Times September 2021

d. If there are any death claims and death certificate issued Guidelines on “Indian owned and controlled” with
is difficult to obtain on account of non-recovery of an objective to bring more clarity on the issue of
body etc, the process followed in the case of Jammu compliance with the manner of "Indian owned and
& Kashmir floods (Notification of Ministry of Home controlled".
Affairs, GoI, No. 1/12/2014- Vs (CRS) Dated
2. In this regard, the following may be noted:
12.09.2014- which was also followed when recent (i) Insurance (Amendment) Act, 2021, notified on
floods and cyclone occurred), may be considered.
25.03.2021, made the following amendments to
e. Details of offices/ special camps set up for the sub-clause (b) of clause (7A) of section 2 of Insurance
purpose and other relevant details may be Act, 1938:
publicized through your website, media and (a) Foreign investment ceiling has been increased
through State Government channels to enable filing from existing 49 percent to 74 percent;
of claims.
(b) Explanation to sub-clause (b) of clause (7A) of
f. It needs to be ensured that all claims are surveyed Section 2, which mandated the requirement of
immediately and claim payments/on account “Indian owned and controlled” has been
payments are disbursed at the earliest and in any omitted.
case not exceeding the stipulated time-line.
(ii) The definitions of “Control”, “Indian Control of an
g. Adequate number of surveyors may be engaged Indian Insurance Company” and “Indian
immediately as required. Ownership” provided under Indian Insurance
h. You are also requested to launch extensive Companies (Foreign Investment) Rules, 2015 have
been omitted vide Indian Insurance Companies
awareness campaign in the affected State duly
highlighting the measures taken by you. (Foreign Investment) (Amendment) Rules, 2021.
i. In view of Corona Virus (Covid-19) pandemic, the 3. Accordingly, in exercise of its powers under Section 14(1)
Insurers shall encourage the policyholders to use of the IRDA Act, 1999, the Authority hereby withdraws
the Guidelines on “Indian owned and controlled” dated
electronic communication wherever possible for
correspondence while intimating the claim and October 19, 2015 with immediate effect.
filing all the relevant documents. 4. This is for the information of the stakeholders.
3. All non-life insurers (including Standalone Health Insurers)
(S N Rajeswari)
are advised to submit information related to this flood
claims to General Insurance Council in the format already Member-Distribution & In-charge of Finance
being used for earlier flood/cyclone claims.
GeM BOQ Bid for Kyocera Copiers
4. We request you to take urgent steps for expeditious
settlement of claims in the flood affected areas and accessories and spare part
submit details of the same as advised above.
GEM/2021/B/1427246
Date:13-08-2021
(Yegnapriya Bharath)
Chief General Manager (Non-Life)
This has reference to the GeM BOQ Bid Number: GEM/2021/
Withdrawal of Guidelines on Indian owned B/1427246, published on 13/08/2021, on GeM Portal
(https://gem.gov.in) for providing Kyocera Fuser Kit Fk-7125,
and controlled
for Kyocera 3212i Multifunction Machine / Copiers and Paper
IRDAI/F&A/CIR/MISC//211/07/2021 feed rollers set 4 piece, IN IRDAI, HYDERABAD.
Date:30-07-2021 Bids are invited in GeM portal under the rules and
regulations applicable in GeM.
1. The Authority, in exercise of powers conferred under
Section 14 (1) of the IRDA Act 1999, vide IRDA/ F&A/ (A.R.Nithiyanantham)
GDL /GLD /180/10/2015 dated October 19, 2015, had Chief General Manager (IT)

52 The Insurance Times, September 2021