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CMA Final · Corporate and Economic Laws · Laws and Regulations related to Insurance Sector

Under Section 14C of the IRDA Act, 1999, before the Authority processes an insurer's application for policy related information about a person, what must the insurer confirm to the Authority?

The insurer must confirm to the Authority that the person has consented to give access to his policy related information, in accordance with existing law and regulations, including preserving evidence of that consent. Only after this confirmation does the Authority process the application under Section 14C.

  1. AThat the person has been issued a policy for at least three years
  2. BThat the person has consented to provide access to his policy related information, including preservation of evidence of such consentCorrect
  3. CThat the person has no claim pending with any other insurer
  4. DThat the person has paid the fee levied by the Authority

Explanation

Section 14C(2) says the Authority processes the application only after the insurer confirms that the person has consented to access to his policy related information, including preserving evidence of that consent. The other conditions are not stated in the section.

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