E-insurance mandatory for INR 10,000 or above annual premium in life insurance

The Insurance Regulatory Development Authority of India (“IRDA”) has vide a notification dated 13th June, 2016 notified the IRDA Issuance of e-Insurance Policies Regulations, 2016, under which w.e.f 1st October, 2016 electronic insurance will become mandatory for an annual premium equal to or above INR 10,000 in life insurance policies & annual premium above INR 5,000 for general insurance of all retail policies (except motor), individual personal accident and domestic travel. (more…)

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