Press Release

March 12, 2008

 

IRDA (Micro-Insurance) Regulations 2005 – Micro Insurance Agents


 

 Presently Micro Insurance Agents include, inter-alia, Non-Government Organizations (NGOs) as defined under Clause 1 Para 2 (f) of IRDA (Micro-Insurance) Regulations 2005 viz. those that are registered as a Society under any law. IRDA has clarified that a Non-Government Organization for the purpose of appointment of Micro Insurance Agent would henceforth include in addition to those defined in the above section, any non-profit organizations registered with non-profit objective under the appropriate law (including companies registered under Section 25 of the Companies Act).

All other existing conditions to be satisfied by the NGO as specified in the Regulation would remain unchanged.

 

 

(C. R. Muralidharan)
Member

 

 

 


     


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