{"id":227801,"date":"2020-04-02T09:00:15","date_gmt":"2020-04-02T03:30:15","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=227801"},"modified":"2020-04-05T10:39:04","modified_gmt":"2020-04-05T05:09:04","slug":"insurance-rules-amended-to-cover-risk-on-3rd-party-and-health-insurance-policies-pending-renewal-during-the-nationwide-lockdown","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/04\/02\/insurance-rules-amended-to-cover-risk-on-3rd-party-and-health-insurance-policies-pending-renewal-during-the-nationwide-lockdown\/","title":{"rendered":"Insurance Rules amended to cover risk on 3rd Party and Health Insurance policies pending renewal during the nationwide lockdown"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>G.S.R. 229 (E) .\u2014<\/strong>In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, the Central Government hereby makes the following rules further to amend the Insurance Rules, 1939, namely:-<\/p>\n<p style=\"text-align: justify;\">1. (1) These rules may be called the <span style=\"color: #0000ff;\"><strong>Insurance (Amendment) Rules, 2020<\/strong><\/span>.<\/p>\n<p style=\"text-align: justify;\">(2) It shall come into force on the date of its publication in the Official Gazette.<\/p>\n<p style=\"text-align: justify;\">2. In the Insurance Rules, 1939, in rule 59, after clause (n), the following clauses shall be inserted, namely:-<\/p>\n<p style=\"text-align: justify;\">\u201c(o) <span style=\"color: #ff0000;\">Motor vehicle third party insurance policies.<\/span> &#8211; In the case of renewal of motor vehicle third party insurance policies falling during the period of lockdown due to outbreak of COVID-19 pandemic, the risk may be assumed subject to the condition that the premium shall be paid within such time as the Central Government may, by notification, specify in this behalf;<\/p>\n<p style=\"text-align: justify;\">(p) <span style=\"color: #ff0000;\">Health insurance policies<\/span>.- In the case of renewal of health insurance policies falling during the period of lockdown due to outbreak of COVID-19 pandemic, the risk may be assumed subject to the condition that the premium shall be paid within such time as the Central Government may, by notification, direct in this behalf.\u201d<\/p>\n<hr \/>\n<p><strong>Ministry of Finance<\/strong><\/p>\n<p style=\"text-align: right;\">[Notification dt. 01-04-2020]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>G.S.R. 229 (E) .\u2014In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, the <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[40379,40378,40154,40380],"class_list":["post-227801","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-rules_regulations","tag-health-insurance-policies","tag-insurance-amendment-rules-2020","tag-lockdown","tag-motor-vehicle-third-party-insurance-policies"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - 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conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, read with rule 59 of the Insurance Rules, 1939, the Central Government, having regard to the prevailing situation in the country caused due to Corona Virus disease (COVID-19) and consequent\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/motorvehicle.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/motorvehicle.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/08\/motorvehicle.jpg?resize=525%2C300&ssl=1 1.5x, 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2022 in order to revise the base premium for third party insurance for unlimited liability. The\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-138.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-138.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-138.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-138.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/04\/MicrosoftTeams-image-138.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":211220,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/03\/02\/life-insurance-corporation-of-india-recruitment-of-apprentice-development-officers-amendment-regulations-2019\/","url_meta":{"origin":227801,"position":2},"title":"Life Insurance Corporation of India (Recruitment of Apprentice Development Officers) (Amendment) Regulations, 2019","author":"Bhumika Indulia","date":"March 2, 2019","format":false,"excerpt":"F.No.S-11011\/17\/2017-Ins.I \u2014In exercise of the powers conferred by Section 49 of the Life Insurance Corporation Act, 1956 (31 of 1956) and with the previous approval of the Central Government, the Life Insurance Corporation of India hereby makes the following regulations further to amend the Life Insurance Corporation of India (Recruitment\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/1200px-LIC_Logo.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":251190,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/13\/insurance-regulatory-and-development-authority-of-india-indian-insurance-companies-amendment-regulations-2021\/","url_meta":{"origin":227801,"position":3},"title":"Mandatory compliances introduced for registration of an Indian Insurance Company having foreign investment","author":"Prachi Bhardwaj","date":"July 13, 2021","format":false,"excerpt":"The Insurance Regulatory and Development Authority of India (IRDAI) has passed Insurance Regulatory and Development Authority of India (Indian Insurance Companies) (Amendment) Regulations, 2021 on July 07, 2021, by amending the corresponding regulations which are mentioned herein: Amendment to Insurance Regulatory and Development Authority (Registration of Indian Insurance Companies) Regulations,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/04\/irdai.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223814,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/04\/guidelines-on-migration-and-portability-of-health-insurance-policies-irdai\/","url_meta":{"origin":227801,"position":4},"title":"Guidelines on Migration and Portability of health insurance policies &#8212; IRDAI","author":"Bhumika Indulia","date":"January 4, 2020","format":false,"excerpt":"Reference is invited to Regulation 17(iv) and clause 16 of Schedule I of IRDAI (Health Insurance) Regulations 2016. 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