Section 3(a) in Obligatory Cession for the financial year 2023-24
(a)Notice of information on cession :(i)There would be no limit on sum insured applicable for the cessions made during the period from 1st April ,2023 to 31st March , 2024.(ii)In view of the above , the Indian Re -insurer may require the ceding insurer to give immediate notice of underwriting information of any cession exceeding an amount as specified by the former . The ceding insurer shall inform the Indian Re -insurer at all times whenever the cession exceeds such specified limits.
