IRDA gets ready for product refiling process

India Infoline News Service | Mumbai |

The insurance regulator has introduced a new set of guidelines for traditional life insurance products

The Insurance Regulatory and Development Authority (IRDA) on Tuesday said it is all set for the product refiling process by engaging additional staff in product approvals.

Sudhin Roy Chowdhury, Member (Life), IRDA, said that they would be complying with the July and October deadline for refiling the group and individual products of life insurers.

The insurance regulator has introduced a new set of guidelines for traditional life insurance products.

These guidelines, which have made changes in the product structure, charges and commission structures, will be implemented from July 1, 2013 for group products and October 1, 2013 for individual products.

 

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