PPI Regulations IRDA

Hi I would like to have the original Protection of Policyholders' Interests regulation 2002 as well as the amendments which were later incorporated by IRDA?

[sumit]

The essential system for assurance of policyholders' interests of protection purchasers is contained in the IRDA (Protection of Policyholders' Interests) Regulations 2002.

The protection area has experienced a few changes throughout the years. While increment in number of safety net providers, new classifications of protection middle people, assorted qualities in the items on offer, new channels of raising client grievances and so on have helped the reason for buyers, expanding protests particularly those charging mis-offer of strategies in the life coverage area and postponement in settlement of cases in the non-life coverage segment are reasons for concern. The non-administrative proposals of Financial Sector Legislative Reforms Commission (FSLRC) contain measures for improving monetary buyer assurance at all phases of budgetary exchange and securing reasonable treatment of clients. The shopper assurance related procurements are contained in rules or guidelines which should be brought into the Regulations implied for policyholder insurance. In this foundation, it was basic to return to the IRDA (Protection of Policyholders Interest) Regulations, 2002 for reinforcing the measures for policyholder insurance.

3. The Standing Advisory Committee for Consumer Affairs related matters constituted by IRDA under the Chairmanship of Shri DD Singh, Member (Distribution) was depended with a one-time undertaking of reconsidering the client security system in protection industry and recommending changes to the PPHI Regulations. In view of the thoughts of the Committee, IRDA has now turned out with the draft IRDA (Protection of Policyholders Interest) Regulations, 2014.

4. The Guidelines on Grievance Redressal Framework, Complaint taking care of technique, Enforcement of Rights of shopper containing security as suggested by FSLRC and Corporate Governance Guidelines for policyholder assurance have been incorporated into the Regulations as Annexures. Model Citizens Charter with a characteristic rundown of administrations has additionally been incorporated as an Annexure to serve as the premise for every organization to draw up a Citizen's Charter for its clients.

5. The Draft of IRDA (Protection of Policyholders Interest) Regulations, 2014 alongside Annexures has today been put on the site of IRDA and purchaser training site of IRDA for welcoming open remarks from all partners.

Please find the file attached for the original IRDA (Protection of Policyholders’ Interests) Regulations 2002