Circular regarding Solvency Margin for Crop Insurance Business (dated – 03.08.2021) – IRDAI
View PdfCircular regarding Solvency Margin for Crop Insurance Business (dated – 03.08.2021) – IRDAI
- The provision of Para-6.1.1 is revised as under:
- Premium receivables related to State / Central Government sponsored schemes for all quarters of the FY 2021-22 to the extent that they are not realized within a period of 270 days should be placed with value zero.
- The provisions of Para-6.2, Para-6.3 and Para-6.3.1 shall remain effective for one more financial year, that is, for the period from 1st April, 2021 up to 31st March, 2022 and the situation will be reviewed accordingly.
- Insurers to continue follow-up with the Central and State Governments for release of their share of premium.
- This Circular has come into effect from01.04.2021.
