Insurers must update details of motor insurance service providers on portal, IRDAI says

CHENNAI: Insurers are required to update the details of motor insurance service provider (MISP) in their network on the portal, the insurance regulator has said.
In August, the IRDAI issued guidelines for MISPs to recognise their role in distributing and servicing motor insurance policies.
"Automotive dealers, besides handling their core activity of selling of vehicles, have always been an integral part in coordinating insurance for motor vehicles.Insurers and insurance intermediaries are required to upload details of MISPs to be appointed by them," said the IRDAI, adding "Such information needs to be shared with the Insurance Information Bureau of India (IB)."
Data upload of MISPs would be enabled on the IIB's portal on November 1, 2017.