The Insurance Regulatory and Development Authority of India (`The Authority`), in terms ofCircular ref: IRDAI/NL/CIR/MOT/137/08/2018 dated 28th August, 2018, had assigned Unique Identification Number (UIN) to Motor Long Term Third Party Insurance, Long Term Package Covers and Bundled Products based on the Letter of Intent filed by General Insurers to enable them to offer these covers effective 1st September, 2018. As per para 5(ii) and (iv) of the said Circular, the Insurers were required to file all such Products/Add-ons under the File and Use Guidelines before 15th September, 2018.
The Authority has been receiving representations from the General Insurers, requesting for extension of time to file the said Products/Add-ons, citing various reasons including technical issues encountered in electronic filing in BAP.
Having regard to the concerns expressed by the Insurers, the Authority, in terms of Section 14(2) of IRDA Act 1999 hereby extends the last date of filing to 15th October, 2018.
All other contents of Circular dated 28th August, 2018 shall remain in effect.
