Gazette Information

Gazette Title

Insurance Regulatory and Development Authority of India (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024

Gazette Number

2155 GI/2024

Publication Date

20th March, 2024

Issuing Authority

Insurance Regulatory and Development Authority of India

Summary

• The regulations specify minimum rural and social sector business that insurers are required to underwrite.
• These regulations will come into force from 1st April 2024.
• Insurers must collectively insure a minimum number of lives and vehicles in rural areas.
• Insurance policies issued under government social security schemes will count towards rural and social sector obligations.
• General insurers must ensure compliance with motor third party insurance obligations.