The insurance regulator IRDAI has extended the deadline for the filing of motor long term third party insurance /long term package covers /bundled products under the File and Use Guidelines to Oct 15.
The insurers were required to file all such products/Add-ons under the File and Use Guidelines before 15th September..
Meanwhile, the regulator has cautioned all the industry players any delays in submission of data beyond the specified time limits or non-submission of requisite data for onsite inspections conducted by it is a serious cause of concern.
With regard to the submission of pre-inspection data requirements, it has been noticed in some cases, there is undue delay in providing pre-inspection data, observed IRDAI..
Any data that is not submitted will be treated as non-submissions for the purpose of conducting onsite inspections, said IRDAI.
The IRDAI has asked all the players to provide all the necessary data requested prior to the inspection, within the timelines specified in the intimation letter for onsite inspection.
The players should provide data as sought by the onsite inspection team during the onsite inspections, within the timelines specified by the team.
They should also exercise care to ensure that the data is accurate and complete in all respects and reflect true state of affairs.
All submissions should be made to the extent possible through e-mail, said the IRDAI,