Extension of time limit for filing of returns to the Authority and uploading the Public Disclosures on websites of insurers

Last updated: 10 May 2021

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The Insurance Regulatory and Development Authority of India has extended the deadline for all insurers and reinsurers by 30 days. This extension applies to the filing of all monthly, quarterly, half-yearly, and annual regulatory returns for the period ending 31st March 2021. Additionally, the time limit for uploading public disclosures on insurer websites for the same period has also been extended by 30 days. Insurers are reminded to continue filing their monthly solvency positions within 15 days of the month's end.

Insurance Regulatory and Development Authority of India

Circular

Ref. No: IRDA/F&A/CIR/MISC/ 126 /05/2021

Date:06-05-2021

All Insurers and Reinsurers (including FRBs)

Sub: Extension of time limit for filing of returns to the Authority and uploading the Public Disclosures on websites of insurers

The insurers are required to furnish various regulatory returns and upload the Public Disclosures on their website pursuant the instructions issued by the Authority.

2. In view of the partial lockdown and the restrictions imposed by the various states to contain the spread of the COVID 19 pandemic, it has been decided that the time limit for furnishing all monthly, quarterly, half yearly and annual returns for the period ending on 31.03.2021 is extended by a period of 30 days. Further the time limit for ensuring compliance with the directions regarding Public Disclosures on websites by insurers, for the period ended on 31.03.2021, is also extended by a period of 30 days. The insurers may avail the additional time and ensure compliance with the requirements of all regulatory filing and uploading of the public disclosures.

3. All insurers shall continue to file the solvency position with the Authority on monthly basis within 15 days from the end of the respective month.

Sd/-

(Dr. Mamta Suri)

Chief General Manager (F&A)

FAQ :

The notification extends the deadline for filing regulatory returns and uploading public disclosures for insurers and reinsurers by 30 days.

All monthly, quarterly, half-yearly, and annual returns for the period ending 31st March 2021 are covered.

Yes, the deadline for uploading public disclosures on insurer websites for the period ended 31st March 2021 is also extended by 30 days.

The extension is due to partial lockdowns and restrictions imposed by various states to contain the spread of the COVID-19 pandemic.

Insurers must continue to file their solvency position with the Authority on a monthly basis within 15 days from the end of the respective month.

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Notification No : IRDA/F&A/CIR/MISC/ 126 /05/2021
Published in Miscellaneous
Source : https://www.irdai.gov.in/admincms/cms/whatsNew_Layout.aspx?page=PageNo4472&flag=1

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