New Delhi; Insurance sector regulator IRDA on Tuesday relaxed norms for companies by doing away with the prior approval clause for joint sale advertisements by insurers.
"...It is decided to permit insurers to release joint sales advertisements, without prior approval of the authority, in accordance to the applicable regulations or guidelines in vogue and file the same," Insurance Regulatory and Development Authority (IRDA) said in a circular.
Any insurance advertisement brought out jointly by an insurer either with its corporate agent or with a micro- insurance agent would fall under this category. These could relate to promotional activities where the logo or trademark names of the participating parties are displayed jointly.
However, all such advertisements filed with the IRDA will continue to carry a certificate from the appointed actuary, it said.
First Published: Tuesday, July 17, 2012, 21:50