To,
All CEOs/CMDs of General Insurance Companies
Re: Compliance of Motor Third Party Obligations.
This has reference to IRDAI (Obligation of Insurer in respect of Motor Third Party Insurance Business) Regulations, 2015 dated 02.06.2015. In this regard, all insurers, who are licensed to underwrite direct motor insurance business in India, are advised to use the Gross Direct Premium figures published on the IRDAI website specifically for the calculation of Motor Third Party Obligations, from time to time. This circular will hold good unless otherwise communicated.
Yegnapriya Bharath
Chief General Manager (Non-Life)
Source : (IRDAI CIRCULAR)
