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The Hindu

National

PTI

Life insurance products can be launched without prior approval: IRDAI

IRDAI Insurance

Insurance sector regulator IRDAI on June 10 extended the ‘use and file’ procedure for the most of the life insurance products, thereby allowing insurers to launch new products without prior approval of the regulator.

This comes days after Insurance Regulatory and Development Authority of India (IRDAI) extended similar relaxations to health insurance products as well as general insurance covers.

In a press release, Irdai said that in its continuous endeavour towards the reform agenda taken up towards having a fully insured India, it has extended the ‘use and file’ procedure for most of the life insurance products.

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