The Insurance Regulatory and Development Authority of India (IRDAI) as part of steps towards reinforcing empowerment of policyholders has issued Master Circular on Protection of Policyholders’ Interests under the IRDAI (Protection of Policyholders’ Interests, Operations, and Allied Matters of Insurers) Regulations, 2024 replacing 30 circulars.
This circular consolidates policyholder entitlements into a single reference document and emphasizes measures towards providing seamless, faster and hassle-free claims settlement experience to a policyholder and enhance service standards, to foster a climate of trust and transparency within the insurance sector.
The Circular is divided into two sections:
- Section One: A policyholder/prospect who wishes to know a brief of important and relevant information at various stages of an insurance contract, may visit this section.
- Section Two: specifically focusses on broad requirements to be complied with by an insurer under the Regulations.
