IRDAI Unveils Draft On ‘Guidelines On Standard Travel Insurance Policy’


The Insurance Regulatory and Development Authority of India (IRDAI), on Monday, unveiled a draft on standard guidelines for travel insurance with an aim at ensuring uniformity and definition regarding coverage, eliminations, and terms of coverage for both domestic and international travel.

The development is focused at boosting the travel insurance reach to the more travellers.

IRDAI, while issuing an exposure draft on the Policy, said that the guidance will make available a standard travel insurance product with common coverage and policy wordings across the industry.

According to IRDAI’s guidelines issued on December 28, “The standard product shall have the basic mandatory covers as specified in draft guidelines which shall be uniform across the market. The product may be both as an individual product and as a group product.”


The guidance will help in initiating a standard travel insurance product with uniform coverage and policy wordings across the sector, said Irdai while unveiling the draft on “Guidelines on Standard Travel Insurance Policy.”

The exposure draft, on which the Irdai has invited comments from the stakeholders by January 6, 2021, also involves standard terms and conditions, customer information sheet as well as the use and file format.

In the event of the accidental death of a minor under the age of 18, the maximum liability of the insurer would be limited to 50 percent of the sum insured.

The travel insurance policy will also cover events like missed flight, loss of checked-in baggage, trip delay, loss of passport and repatriation of remains.


The development is aimed at simplifying and broadens insurance’s reach across India. The insurance regulator has issued guidelines for the insurers to give a blue print of standard travel policies that has to be offered from April 1, 2021.

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