Beruflich Dokumente
Kultur Dokumente
Session 16
CONTENTS
Introduction to
Disclosure) Regulations, 2000
Definitions
Compliances
Advertisements by agents / intermediaries
Advertisements on the internet
Adherence to advertisement code
Statutory warning
Action in case of complaints
Introduction to
IRDA (Insurance Advertisements and Disclosure) Regulations, 2000
Framed in exercise of power
conferred by Sec 26 of IRDA Act.
Electronic
Internet
Telephone
Solicitation
Representati
on by
Intermediari
es
Any Other
Communicat
ion
Definitions under
IRDA (Insurance Advertisements and Disclosure) Regulations, 2000
Unfair or
misleading
advertisem
ent means
and include
any
advertisem
ent:
Definitions under
Illustration 1
Disclaimer
Disclosing
sufciently about
the limitations
and conditions of
the contract as
well as the risk
factors
Identifying the
product as
insurance
Unique
Identifcation
Number allotted
by IRDA for each
insurance
product.
Customers may
check UIN before
purchasing.
Compliances under
IRDA (Insurance Advertisements and Disclosure) Regulations, 2000
Every insurer to have a compliance ofcer to oversee its advertising
plan
Name and ofcial position to be communicated to IRDA
Maintenance of an advertising register at corporate ofce containing a
specimen of each advertisement issued
Specimen of each advertisement to be maintained for at least 3 years
Copy of each advertisement to be fled with IRDA along with method or
media used for dissemination
Certifcate of compliance to be fled with annual statement
Advertisements
By Agents / Intermediaries
Only properly licensed intermediaries may advertise or
solicit insurance through advertisements.
The advertisement must be approved by the insurer in
writing
The insurer must be responsible to ensure that the
advertisements are not deceptive or misleading
Approval NOT required in case of advertisements
developed by the insurer and provided to the agents
Every advertisement shall state clearly that insurance is
the subject matter of the solicitation
IRDA-Registration
number : 512
Life Insurance Corporation
of India
Adherence to Advertisement
Code
Insurer / intermediary to discharge its
functions in the interest of the
policyholders
To follow recognized standards of
professional conduct as prescribed by the
Advertisement Standards Council of
India (ASCI) (a self regulatory voluntary
organization of the advertising industry)
Not to issue advertisement that may be
considered as False, Misleading, Indecent,
Illegal, leading to Unsafe practices or
Unfair competition
Statutory Warning
"No person shall allow or
offer to allow, either
directly or indirectly, as an
inducement to any person
to take out or renew or
continue an insurance in
respect of any kind of risk
relating to lives or property
in India, any rebate of the
whole or part of the
commission payable or any
rebate of the premium
shown on the policy, nor
shall any person taking out
or renewing or continuing
a policy accept any
rebate, except such rebate
as may be allowed in
accordance with the
published prospectus or