INDIA CODE

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Circular IRDAI/CIR/2018/2370 of the Insurance Regulatory and Development Authority of India dated 22nd December, 2018 on the holding of a policy [C11-R8Y]

As at 6 September 2026. In force. No commencement recorded.

Dates: made 22 December 2018; in force not recorded; ceased none recorded. Gazette: none recorded. Band B.

Synthetic. This instrument, its title, its number and its words are generated by the register, beneath the Act its recital names.

Cite: Circular IRDAI/CIR/2018/2370 of the Insurance Regulatory and Development Authority of India dated 22nd December, 2018 on the holding of a policy, Circular IRDAI/CIR/2018/2370, 22nd December, 2018 [C11-R8Y]. Machine: C11-R8Y.

IRDAI/CIR/2018/2370

Insurance Regulatory and Development Authority of India

Hyderabad, dated the 22nd December, 2018

CIRCULAR

To

All Controllers of Insurance,

Subject: The holding of a policy by policy-holders under the Insurance Regulatory and Development Authority Act, 1999, regarding.

In exercise of the powers conferred by section 9 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Insurance Regulatory and Development Authority of India hereby issues the following

1. References have been received seeking clarification on the manner in which section 9 applies to the holding of a policy by policy-holders.

2. The matter has been examined. Every policy-holder carrying on the holding of a policy shall make an application in Form IRDA-2 to the Central Government within ninety days, accompanied by a fee of five thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the holding of a policy is undertaken, and the Central Government shall dispose of it within ninety days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Insurance Regulatory and Development Authority of India.

(Chief General Manager)

Made under

Recital: "In exercise of the powers conferred by section 9 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Insurance Regulatory and Development Authority of India hereby issues the following". Names section 9 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999) [S1Z-W0Y]. Vires verified.

Acts on (0)

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Acted on by (0)

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Not held (0)

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Circular IRDAI/CIR/2018/2370 of the Insurance Regulatory and Development Authority of India dated 22nd December, 2018 on the holding of a policy [C11-R8Y]