Insurance repository system allows policy holders to keep insurance policies in electronic form and undertake changes and revision in the policy with speed and accuracy.
Recently, IRDAI permitted five companies to act as repositories for managing e-policy. These are:NSDL Database Management, CAMS Repository Services,SHCIL Projects, Central Insurance Repository and Karvy Insurance Repository
Motor Vehicle insurance in India was governed by India Motor Tariffs effective from 01-08-1989 till December 2006.
The Third Party Liability premium is still being regulated by the IRDA. All other terms conditions and rules of the erstwhile India Motor Tariff are still in use.
Although the insurers have been freed from the tyranny of tariff norms for Motor OD rating, they continue to follow the erstwhile Tariff guidelines including wordings.
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