Section 10 in Insurance Regulatory and Development Authority of India (Non-Linked Insurance Products) Regulations, 2019
10.
A product shall not be launched unless the Board or its delegated risk committee shall certify that "all the processes and suitable infrastructure and system requirements on an ongoing basis for the product ________________ (product name) to be launched are established and the systems enable the insurer from day of launch of the product, to perform all the day-to-day operations including all policyholder servicing, payments and determination of the reserves and solvency margin as required under the Act, the IRDA Act, Rules or Regulations framed thereunder from time to time." The certificate shall be submitted to the Authority before the launch of the product.
