G.S.R. 229 (E) .—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:-
1. (1) These rules may be called the Insurance (Amendment) Rules, 2020.
(2) It shall come into force on the date of its publication in the Official Gazette.
2. In the Insurance Rules, 1939, in rule 59, after clause (n), the following clauses shall be inserted, namely:-
“(o) Motor vehicle third party insurance policies. – 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) Health insurance policies.- 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.”
Ministry of Finance
[Notification dt. 01-04-2020]
I like to read well-written articles. It looks like you spent a lot of time and effort on your blog. keep up the good work and thank you so much.