Attention insurers, the IRDAI has issued new guidelines regarding the submission of Advance Reinsurance Program summaries.
WHAT CIRCULAR STATES?
The circular states that insurers must submit a summary of their advance reinsurance program to the IRDAI at least 45 days before the start of each financial year.
WHAT IS THE PURPOSE OF IRDAI CIRCULAR?
It helps the IRDAI monitor the reinsurance practices of insurers and ensure they are managing risks effectively.