IRDAI has decided to do away with its mandatory disclaimer - ‘insurance is the subject matter of solicitation’ used in advertisements by insurers. The decision was taken at a recently held meeting headed by TS Vijayan, Chairman IRDAI.
“The proposal to drop the mandate of stipulated declaration “Insurance is the subject matter of solicitation” in all insurance advertisements as per regulation, 2000 was approved with a direction to initiate the process for amending the regulations for the aforesaid purpose.”
The insurance regulator is expected to make necessary amendment and come out with a circular soon.