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Insurance Regulatory and Development Authority of India Ref. No: IRDA/ACT/CIR/MISC/001/01/2020 Date:01-01-2021 Re: Clarification on the IRDAI (Assets, Liabilities and Solvency Margin of Life Insurance Business) Regulations, 2016 and IRDAI (Assets, Liabilities and Solvency Margin of General
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FAQ :
The clarification pertains to the IRDAI (Assets, Liabilities and Solvency Margin of Life Insurance Business) Regulations, 2016 and the IRDAI (Assets, Liabilities and Solvency Margin of General Insurance Business) Regulations, 2016.
This notification is addressed to the CEOs/Principal Officers of Life Insurers and General Insurers, including Standalone Health Insurers.
It is clarified that the Appointed Actuary will be given advance notice about the reasons for a personal visit to the Authority by a communication from an officer of the Authority not below the rank of Deputy General Manager.
These clarifications come into force with immediate effect.
The clarifications are issued in exercise of the power vested under Regulation 11 of both the Life and General Insurance Business Solvency Margin Regulations, 2016.
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Notification No : IRDA/ACT/CIR/MISC/001/01/2020Published in Miscellaneous
Source : https://www.irdai.gov.in/ADMINCMS/cms/whatsNew_Layout.aspx?page=PageNo4322&flag=1