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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Insurance Regulatory and Development Authority <br /><br /> IRDA clarifies provisions for refund of premium on repudiation of policy<br /><br /> MANU/IRDA/0041/2015 - (28 Oct 2015)<br /><br /> </td> </tr> <tr> <td align="left" valign="top">Applicability of provisions of Sec 45 of Insurance Act 1938 in various scenarios</td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>The Insurance Regulatory Development Authority of India has released clarifications pursuant to amendment of Section 45 of the Insurance Act, 1938. The clarifications relate to late claim on behalf of deceased policyholder, misrepresentation or suppression of material fact at time of obtaining policy and the quantum of refund in case of repudiation of policy.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Insurance, clarifications, section 45, refund, misrepresentation</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>