{"uin":"IRDAN058CPMS0004V01202627","name":"National Parametric Flexi Shield Insurance Policy","url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627","insurer":{"slug":"national-insurance","name":"National Insurance Company Limited","url":"https://indiainsurances.com/insurer/national-insurance"},"line":"general","category":"other-general","category_name":"Other general insurance","irdai_type":null,"kind":"product","status":"active","approved_on":null,"withdrawn_on":null,"summary":"This is a parametric policy that pays the amount specified in the Term Sheet or Policy Schedule if a Strike or Exit occurs due to a covered deviation in the Observed Index. Claims are admissible only if the cause of action arises in India, and the policy wording says claim settlement is within sixty days after expiry of the Index Risk Period or Index Phase Period subject to certified data.","analysis":{"state":"machine","analysed_at":"2026-10-20 05:36:14.597935+00","note":"First pass: one AI reading; every stated fact carries a verbatim quote found in the cited clause, but it has not been reviewed. Check the clause before relying on it."},"facts":[{"key":"plan_variants","label":"Plans and variants","section":"Overview","meaning":"The named plans inside this product (not cover types or payout options). Facts can differ between them.","status":"not-stated","value":null,"display":null,"note":"The provided documents do not name any plans or variants.","quote":null,"sources":[],"law":[]},{"key":"policy_term","label":"Policy term","section":"Eligibility","meaning":"How long one policy runs before it ends or must be renewed.","status":"not-stated","value":null,"display":null,"note":"The wording points to the Policy Schedule for the effective date and expiry date, but the provided documents do not state a fixed policy term.","quote":null,"sources":[],"law":[]},{"key":"claim_intimation","label":"Claim intimation deadline","section":"Claims","meaning":"How soon you must tell the insurer about a claim or hospitalisation.","status":"quote-verified","value":"The policyholder must notify the insurance company within 15 days of any damage or loss.","display":"Within 15 days of any damage or loss","note":"Stated in the CIS.","quote":"• The policyholder must notify the insurance company within 15 days of any damage or loss.","sources":[{"clause":"19","heading":"Arbitration","page":2,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13221#c-19"}],"law":[{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 20, 21","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_documents","label":"Claim documents","section":"Claims","meaning":"Documents the insurer asks for when you claim.","status":"quote-verified","value":["all reasonable information, assistance and proofs","books of accounts","receipts","documents relating to or containing entries relating to the loss"],"display":"All reasonable information, assistance and proofs; if required, books of accounts, receipts and documents relating to the loss","note":"Books, receipts and documents are required when the Company asks for them.","quote":"The Insured shall tender to the Company all reasonable information, assistance and proofs in connection with any claim hereunder. ... The Insured shall on being required so to do by the Company produce all books of accounts, receipts, documents relating to or containing entries relating to the loss or such circumstance in his possession","sources":[{"clause":"3","heading":null,"page":5,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-3-3"},{"clause":"12","heading":"Right to inspect","page":7,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-12-2"}],"law":[{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 17","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 23","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"claim_settlement_time","label":"Claim settlement time promised","section":"Claims","meaning":"How quickly the policy says a claim is decided or paid, and from when that is counted (intimation or last document).","status":"conflicting","value":"On expiry of the Index Risk Period or Index Phase Period, the Company will settle the claim within sixty days, or as specifically mentioned otherwise in the Policy Schedule, subject to receipt of necessary certified data from the Authorized Data Provider.","display":"Within sixty days after expiry of the Index Risk Period/Index Phase Period, or as mentioned in the Policy Schedule, subject to certified data","note":"CIS says: '• Turn-Around Time (TAT) for claims settlement- 30 days from the date of last document submission.'","quote":"On expiry of Index Risk Period/ Index Phase Period, the Company will settle the claim, if any, within sixty days or as specifically mentioned otherwise in the Policy Schedule, subject to receipt of necessary certified data from the Authorized Data Provider. ... • Turn-Around Time (TAT) for claims settlement- 30 days from the date of last document submission.","sources":[{"clause":"6","heading":null,"page":5,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-6-3"},{"clause":"19","heading":"Arbitration","page":2,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13221#c-19"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64UM(4) to (6)","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 10","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 15","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 16","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 22","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(i), V.3(ii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, V.3(iii)","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, V.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 23","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"The Motor Vehicles Act, 1988: Chapter XI, insurance of motor vehicles against third party risks","section":"Section 149","url":"https://indiainsurances.com/law/motor-vehicles-act-1988"}]},{"key":"exclusions_main","label":"Main exclusions","section":"Exclusions","meaning":"What the policy does not pay for, in the policy's own words.","status":"quote-verified","value":["Deviation in Observed Index resulting from Ionizing radiations or contaminations by radioactivity from any nuclear waste from the combustion of nuclear fuel","The radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof","Any event leading to diminished agricultural or non-agricultural output/yield, or increased operational costs, howsoever caused, other than on account of a deviation in weather parameters as stated in the Schedule within a specific geographical location and specified time period","Riots, Strike, Malicious Damage, Acts of Terrorism","War, war-like operations, act of foreign enemy, invasion of Indian territory or any part thereof","Consequential losses of any kind, by the way of loss of profit, business interruption, market loss or otherwise and/or any other legal liability of any kind","Strike or Exit resulting out of act of god (AOG) perils such as Storm, Cyclone, Tempest, Typhoon, Hurricane, Tornado, Flood, Inundation, Earthquake, Tsunami, Hailstorm etc.","An occurrence or outbreak of a pandemic or any infectious or human contagious diseases","Insurance is not valid, if the land is not cultivated during the Policy Period","Any loss incurred to harvested crops and crops in transit","Observed Index is lower than the Strike and where Insured has opted for coverage for an Observed Index exceeding the Strike","Observed Index is greater than the Strike where Insured has opted for coverage for an Observed Index lower than the Strike","Any loss incurred to other weather index/parameter, other than stated in the schedule or part thereto"],"display":"Nuclear/radioactivity; non-weather events; riots/strike/malicious damage/terrorism; war and political risks; consequential losses; AOG perils; pandemic or infectious/contagious diseases; uncultivated agricultural land or harvested/in-transit crops; wrong direction of Strike; other weather index/parameter","note":"Several exclusions do not apply if the item is specifically covered and mentioned in the Policy Schedule or Term Sheet.","quote":"a) Ionizing radiations or contaminations by radioactivity from any nuclear waste from the combustion of nuclear fuel; or\nb) The radioactive, toxic, explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof. ... Any event leading to diminished agricultural or non-agricultural output/yield, or increased operational costs, howsoever caused, other than on account of a deviation in weather parameters as stated in the Schedule within a specific geographical location and specified time period, unless specifically covered under the Policy and mentioned in the Policy Schedule or Term Sheet. ... Riots, Strike, Malicious Damage, Acts of Terrorism, unless specifically covered under the Policy and mentioned in the Policy Schedule or Term Sheet. ... War, war-like operations, act of foreign enemy, invasion of Indian territory or any part thereof ... Consequential losses of any kind, by the way of loss of profit, business interruption, market loss or otherwise and/or any other legal liability of any kind, unless specifically covered under the Policy and mentioned in the Policy Schedule or Term Sheet. ... Strike or Exit resulting out of act of god (AOG) perils such as Storm, Cyclone, Tempest, Typhoon, Hurricane, Tornado, Flood, Inundation, Earthquake, Tsunami, Hailstorm etc., unless specifically covered under the Policy and mentioned in the Policy Schedule or Term Sheet. ... An occurrence or outbreak of a pandemic or any infectious or human contagious diseases. ... i) Insurance is not valid, if the land is not cultivated during the Policy Period, unless specifically covered under the Policy and mentioned in the Policy Schedule or Term Sheet.\nii) Any loss incurred to harvested crops and crops in transit. ... i) in the event that the Observed Index is lower than the Strike and where Insured has opted for coverage for an Observed Index exceeding the Strike during the Policy Period and\nii) in the event that the Observed Index is greater than the Strike where Insured has opted for coverage for an Observed Index lower than the Strike, during the Policy Period. ... Any loss incurred to other weather index/parameter, other than stated in the schedule or part thereto.","sources":[{"clause":"1","heading":"Deviation in Observed Index resulting from","page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-1-2"},{"clause":"2","heading":null,"page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-2-2"},{"clause":"3","heading":null,"page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-3-2"},{"clause":"4","heading":null,"page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-4-2"},{"clause":"5","heading":null,"page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-5-2"},{"clause":"6","heading":null,"page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-6-2"},{"clause":"7","heading":null,"page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-7-2"},{"clause":"8","heading":"In case of cover granted for agricultural activities","page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-8-2"},{"clause":"9","heading":"The Company shall not be liable to make any payment to the Insured","page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-9-2"},{"clause":"10","heading":null,"page":5,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-10-2"}],"law":[{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 11","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 16","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"grievance","label":"Grievance route","section":"Claims","meaning":"Who to complain to first, as stated in the policy, before going to the Insurance Ombudsman.","status":"quote-verified","value":"For a policy grievance, submit it in writing to the Policy Issuing Office or the Grievance cell at the Regional Office. If it remains unaddressed, contact the Customer Relationship Management Department at National Insurance Company Limited.","display":"Write to the Policy Issuing Office or Regional Office Grievance cell first; if unaddressed, contact the Customer Relationship Management Dept.","note":null,"quote":"In case of any grievance related to the Policy, the Insured Person may submit in writing to the Policy Issuing Office or Grievance cell at Regional Office of the Company for redressal. If the grievance remains unaddressed, the Insured Person may contact:\nCustomer Relationship Management Dept., National Insurance Company Limited, Premises No. 18-0374, Plot no. CBD-81, New Town, Kolkata - 700156,\nEmail: customer.relations@nic.co.in, griho@nic.co.in","sources":[{"clause":"H","heading":"REDRESSAL OF GRIEVANCE","page":8,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-h"}],"law":[{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 3","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 4","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021","section":"Rule 5","url":"https://indiainsurances.com/law/consumer-jurisdiction-rules-2021"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(11)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 2(42)","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 34","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Consumer Protection Act, 2019","section":"Section 69","url":"https://indiainsurances.com/law/consumer-protection-act-2019"},{"title":"The Insurance Act, 1938","section":"Section 38","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 12","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 19","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 20","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 13","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 2","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(5), 5(6)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 5(9)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 25","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.1","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, VI.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Para 26","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"IRDAI (Insurance Products) Regulations, 2024","section":"Schedule III, Para 11","url":"https://indiainsurances.com/law/irdai-products-regs-2024"},{"title":"Review of revision in premium rates under health insurance policies for senior citizens, 2025","section":"Para 3","url":"https://indiainsurances.com/law/irdai-senior-premium-2025"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 13","url":"https://indiainsurances.com/law/ombudsman-rules-2017"},{"title":"Insurance Ombudsman Rules, 2017","section":"Rule 14","url":"https://indiainsurances.com/law/ombudsman-rules-2017"}]},{"key":"perils","label":"What is covered","section":"Cover","meaning":"The events or risks covered.","status":"quote-verified","value":["Rainfall (Deficit /Excess/Unseasonal/Dry Spells/Rainy Days/Dry Days)","Temperature (High/Low)","Relative Humidity","Wind speed","Solar Radiation or Sun Shine","Fog","Hailstorm","Snow","A combination of the above","Any other parameter that are measurable"],"display":"Rainfall, temperature, relative humidity, wind speed, solar radiation or sun shine, fog, hailstorm, snow, a combination of these, or any other measurable parameter","note":"The actual covered parameter is specified for each policy in the Policy Schedule or Term Sheet.","quote":"Index would be constructed with any one or a combination of parameters (this will be specified for each individual Policy under section “Coverage Details” in Schedule ):\ni) Rainfall (Deficit /Excess/Unseasonal/Dry Spells/Rainy Days/Dry Days)\nii) Temperature (High/Low)\niii) Relative Humidity\niv) Wind speed\nv) Solar Radiation or Sun Shine\nvi) Fog\nvii) Hailstorm\nviii) Snow\nix) A combination of the above\nx) Any other parameter that are measurable","sources":[{"clause":"15","heading":"Index","page":2,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-15"}],"law":[]},{"key":"deductible","label":"Deductible or excess","section":"Limits and co-pay","meaning":"Amount of each claim you bear.","status":"quote-verified","value":"None","display":"None","note":"Stated in the CIS.","quote":"8 | Loss Participation | None","sources":[{"clause":"Row 8","heading":"Loss Participation","page":1,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13221#c-row-8"}],"law":[]},{"key":"cancellation_refund","label":"Cancellation by you","section":"Renewal and rights","meaning":"What you get back if you cancel during the year.","status":"quote-verified","value":"The Insured may cancel during the Policy Period by giving 7 days’ written notice. The Company refunds proportionate premium for the unexpired policy period if no claim has been made, but no refund is made where any claim has been admitted or lodged or any benefit has been availed.","display":"7 days’ notice; proportionate premium for the unexpired period if no claim, no lodged claim and no benefit availed","note":null,"quote":"The Insured may cancel the policy at any time during the Policy Period, by giving 7 days’ notice in writing. The Company shall refund proportionate premium for unexpired policy period, if there is no claim(s) made during the Policy Period. Notwithstanding anything contained herein or otherwise, no refunds of premium shall be made in respect of cancellation where, any claim has been admitted or has been lodged or any benefit has been availed under the Policy.","sources":[{"clause":"15","heading":"Cancellation/termination of Policy","page":7,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-15-2"}],"law":[{"title":"The Insurance Act, 1938","section":"Section 64VB","url":"https://indiainsurances.com/law/insurance-act-1938"},{"title":"Master Circular on General Insurance Business, 2024","section":"Ch I, Para 8","url":"https://indiainsurances.com/law/irdai-general-mc-2024"},{"title":"Master Circular on Health Insurance Business, 2024","section":"Ch I Para 6","url":"https://indiainsurances.com/law/irdai-health-mc-2024"},{"title":"Master Circular on Life Insurance Products, 2024","section":"Chapter 1, Para 5","url":"https://indiainsurances.com/law/irdai-life-products-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 17","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests, Operations and Allied Matters of Insurers) Regulations, 2024","section":"Reg 20(3) to 20(5)","url":"https://indiainsurances.com/law/irdai-ppi-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part A, III.2","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part B, IV.4","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"},{"title":"Master Circular on Protection of Policyholders' Interests, 2024","section":"Sec 1, Part C, IV.3","url":"https://indiainsurances.com/law/irdai-ppi-mc-2024"}]},{"key":"territory","label":"Where it covers","section":"Overview","meaning":"Geographic area of cover: India only, worldwide, or listed countries. 'As stated in the schedule' is not an answer.","status":"quote-verified","value":"Claims are admissible only if the cause of action arises in India, and Indian law applies.","display":"India only for cause of action; Indian law applies","note":null,"quote":"Claims are admissible only if the cause of action arises in India. It is further agreed and understood that only Indian law shall be applicable.","sources":[{"clause":"20","heading":"Territory & Jurisdiction","page":8,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-20-2"}],"law":[]},{"key":"subject_covered","label":"What is insured","section":"Cover","meaning":"The thing or risk this policy covers.","status":"quote-verified","value":"The policy covers a parametric trigger: it pays the amount specified in the Term Sheet or Policy Schedule if a Strike or Exit occurs due to a covered deviation in the Observed Index within the applicable period.","display":"Parametric payout if a Strike or Exit occurs due to a covered deviation in the Observed Index","note":null,"quote":"The Company agrees, subject to the terms, conditions, and exclusions of this Policy, to pay the Insured the amount specified in the Term Sheet/Policy Schedule if a Strike or Exit occurs due to a deviation in the Observed Index within the Policy Period, Index Risk Period, or Index Phase Period (as applicable), provided the deviation is mentioned in the Term Sheet/Policy Schedule.","sources":[{"clause":"C","heading":"SCOPE OF COVER","page":4,"url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067#c-c"}],"law":[]}],"documents":[{"kind":"wording","label":"National Parametric Flexi Shield Policy.pdf","pages":10,"fetched_at":"2026-10-17 19:58:43+00","source_url":"https://nationalinsurance.nic.co.in/sites/default/files/2026-08/National%20Parametric%20Flexi%20Shield%20Policy.pdf","url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13067"},{"kind":"cis","label":"National Parametric Flexi Shield Policy - CIS.pdf","pages":3,"fetched_at":"2026-10-17 20:03:52+00","source_url":"https://nationalinsurance.nic.co.in/sites/default/files/2026-08/National%20Parametric%20Flexi%20Shield%20Policy%20-%20CIS.pdf","url":"https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627/document/13221"}],"versions":[],"where_to_buy":[{"purpose":"buy","kind":"insurer","name":"National Insurance official website","url":"https://nationalinsurance.nic.co.in","note":"Website as listed by IRDAI. Not checked: the site could not be reached from our crawler on 2026-10-19 (connection or TLS error)."},{"purpose":"buy","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"claims_and_complaints":[{"purpose":"claim","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."},{"purpose":"grievance","kind":"official","name":"Bima Bharosa (IRDAI grievance portal)","url":"https://bimabharosa.irdai.gov.in/","note":"Register and track a complaint against any insurer with IRDAI. Complain to the insurer first; escalate here if the reply is late or unsatisfactory."},{"purpose":"grievance","kind":"official","name":"e-Daakhil (consumer commission e-filing)","url":"https://edaakhil.nic.in/","note":"Not reachable from our crawler on 2026-10-19; use e-Jagriti if this link does not open."},{"purpose":"grievance","kind":"official","name":"e-Jagriti (consumer commission filing)","url":"https://e-jagriti.gov.in/","note":"Ministry of Consumer Affairs platform for consumer commission cases, a route for insurance disputes that the Ombudsman does not settle."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Ahmedabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Gujarat, Dadra & Nagar Haveli, Daman and Diu. Email: oio.ahmedabad@cioins.co.in. Phone: 079 - 25501201/02. Address: Office of the Insurance Ombudsman, Jeevan Prakash Building, 6th floor, Tilak Marg, Relief Road, AHMEDABAD – 380 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bengaluru","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Karnataka. Email: oio.bengaluru@cioins.co.in. Phone: 080 - 26652048 / 26652049. Address: Office of the Insurance Ombudsman, Jeevan Soudha Building,PID No. 57-27-N-19 Ground Floor, 19/19, 24th Main Road, JP Nagar, Ist Phase, Bengaluru – 560 078."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhopal","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Madhya Pradesh, Chhattisgarh. Email: oio.bhopal@cioins.co.in. Phone: 0755 - 2769201 / 2769202 / 2769203. Address: Office of the Insurance Ombudsman, 1st floor,\"Jeevan Shikha\", 60-B,Hoshangabad Road, Opp. Gayatri Mandir,Arera Hills Bhopal – 462 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Bhubaneswar","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Odisha. Email: oio.bhubaneswar@cioins.co.in. Phone: 0674 - 2596461 /2596455/2596429/2596003. Address: Office of the Insurance Ombudsman, 62, Forest park, Bhubaneswar – 751 009."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chandigarh","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Punjab, Haryana (excluding Gurugram, Faridabad, Sonepat and Bahadurgarh), Himachal Pradesh, Union Territories of Jammu & Kashmir,Ladakh & Chandigarh. Email: oio.chandigarh@cioins.co.in. Phone: 0172-2706468. Address: Office Of The Insurance Ombudsman, Jeevan Deep Building SCO 20-27, Ground Floor Sector- 17 A, Chandigarh – 160 017."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Chennai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Tamil Nadu, PuducherryTown and Karaikal (which are part of Puducherry). Email: oio.chennai@cioins.co.in. Phone: 044 - 24333668 / 24333678. Address: Office of the Insurance Ombudsman, Fatima Akhtar Court, 4th Floor, 453, Anna Salai, Teynampet, CHENNAI – 600 018."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Delhi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Delhi & following Districts of Haryana - Gurugram, Faridabad, Sonepat & Bahadurgarh. Email: oio.delhi@cioins.co.in. Phone: 011 - 46013992/23213504/23232481. Address: Office of the Insurance Ombudsman, 2/2 A, Universal Insurance Building, Asaf Ali Road, New Delhi – 110 002."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Guwahati","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Assam, Meghalaya, Manipur, Mizoram, Arunachal Pradesh, Nagaland and Tripura. Email: oio.guwahati@cioins.co.in. Phone: 0361 - 2632204 / 2602205 / 2631307. Address: Office of the Insurance Ombudsman, Jeevan Nivesh, 5th Floor, Near Pan Bazar , S.S. Road, Guwahati – 781001(ASSAM)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Hyderabad","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Andhra Pradesh, Telangana, Yanam and part of Union Territory of Puducherry. Email: oio.hyderabad@cioins.co.in. Phone: 040 - 23312122 / 23376991 / 23376599 / 23328709 / 23325325. Address: Office of the Insurance Ombudsman, 6-2-46, 1st floor, \"Moin Court\", Lane Opp.Hyundai Showroom , A. C. Guards, Lakdi-Ka-Pool, Hyderabad - 500 004."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Jaipur","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Rajasthan. Email: oio.jaipur@cioins.co.in. Phone: 0141- 2740363. Address: Office of the Insurance Ombudsman, Jeevan Nidhi – II Bldg., Gr. Floor, Bhawani Singh Marg, Jaipur - 302 005."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kochi","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Kerala, Lakshadweep, Mahe-a part of Union Territory of Puducherry. Email: oio.ernakulam@cioins.co.in. Phone: 0484 - 2358759. Address: Office of the Insurance Ombudsman, 10th Floor, Jeevan Prakash,LIC Building, Opp to Maharaja's College Ground,M.G.Road, Kochi - 682 011."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Kolkata","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: West Bengal, Sikkim, Andaman & Nicobar Islands. Email: oio.kolkata@cioins.co.in. Phone: 033 - 22124339 / 22124341. Address: Office of the Insurance Ombudsman, Hindustan Bldg. Annexe, 7th Floor, 4, C.R. Avenue, KOLKATA - 700 072."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Lucknow","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Districts of Uttar Pradesh : Lalitpur, Jhansi, Mahoba, Hamirpur, Banda, Chitrakoot, Allahabad, Mirzapur, Sonbhabdra, Fatehpur, Pratapgarh, Jaunpur,Varanasi, Gazipur, Jalaun, Kanpur, Lucknow, Unnao, Sitapur, Lakhimpur, Bahraich, Barabanki, Raebareli, Sravasti, Gonda, Faizabad, Amethi, Kaushambi, Balrampur, Basti, Ambedkarnagar, Sultanpur, Maharajgang, Santkabirnagar, Azamgarh, Kushinagar, Gorkhpur, Deoria, Mau, Ghazipur, Chandauli, Ballia, Sidharathnagar. Email: oio.lucknow@cioins.co.in. Phone: 0522 - 4002082 / 3500613. Address: Office of the Insurance Ombudsman, 6th Floor, Jeevan Bhawan, Phase-II, Nawal Kishore Road, Hazratganj, Lucknow - 226 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Mumbai","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: List of wards under Mumbai Metropolitan Region excluding wards in Mumbai – i.e M/E, M/W, N , S and T covered under Office of Insurance Ombudsman Thane and excluding areas of Navi Mumbai. Email: oio.mumbai@cioins.co.in. Phone: 022 - 69038800/27/29/31/32/33. Address: Office of the Insurance Ombudsman, 3rd Floor, Jeevan Seva Annexe, S. V. Road, Santacruz (W), Mumbai - 400 054."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Noida","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Uttarakhand and the following Districts of Uttar Pradesh: Agra, Aligarh, Bagpat, Bareilly, Bijnor, Budaun, Bulandshehar, Etah, Kannauj, Mainpuri, Mathura, Meerut, Moradabad, Muzaffarnagar, Oraiyya, Pilibhit, Etawah, Farrukhabad, Firozbad, Gautam Buddh nagar, Ghaziabad, Hardoi, Shahjahanpur, Hapur, Shamli, Rampur, Kashganj, Sambhal, Amroha, Hathras, Kanshiramnagar, Saharanpur. Email: oio.noida@cioins.co.in. Phone: 0120-4027589. Address: Office of the Insurance Ombudsman, Bhagwan Sahai Palace 4th Floor, Main Road, Naya Bans, Sector 15, Distt: Gautam Buddh Nagar, U.P-201301."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: offices and jurisdiction","url":"https://www.cioins.co.in/Ombudsman","note":"Addresses, phone numbers, e-mail and the states or districts each Ombudsman office covers."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Patna","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Bihar, Jharkhand. Email: oio.patna@cioins.co.in. Phone: 0612-2547068. Address: Office of the Insurance Ombudsman, 2nd Floor, Lalit Bhawan, Bailey Road, Patna 800 001."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Pune","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: State of Goa and State of Maharashtra excluding areas of Navi Mumbai, Thane district,Palghar District, Raigad district & Mumbai Metropolitan Region. Email: oio.pune@cioins.co.in. Phone: 020-24471175. Address: Office of the Insurance Ombudsman, Jeevan Darshan Bldg., 3rd Floor, C.T.S. No.s. 195 to 198, N.C. Kelkar Road, Narayan Peth, Pune – 411 030."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman: register a complaint online","url":"https://cioins.co.in/Complaint/Online","note":"Council for Insurance Ombudsmen. Free. For disputes with an insurer after its own grievance process; the office is chosen by where you live (see the offices list)."},{"purpose":"grievance","kind":"official","name":"Insurance Ombudsman, Thane","url":"https://www.cioins.co.in/Ombudsman","note":"Covers: Area of Navi Mumbai, Thane District, Raigad District, Palghar District and wards of Mumbai , M/East, M/West, N, S and T. Email: oio.thane@cioins.co.in. Phone: 022-20812868/69. Address: Office of the Insurance Ombudsman, Jeevan Chintamani Building, 2nd Floor,Near New RTO Office, Louis Wadi,Vasantrao Naik Mahamarg, Thane (West)- 400604."},{"purpose":"grievance","kind":"official","name":"National Consumer Helpline","url":"https://consumerhelpline.gov.in/public/","note":"Government consumer helpline; can take up a complaint before you go to a consumer commission."},{"purpose":"port","kind":"ours","name":"Get free help from IndiaInsurances","url":"/help","note":"Free. We do not sell insurance and earn no commission; your request is not passed to anyone."}],"notice":"Information, not advice. IndiaInsurances is not an insurer or an insurance intermediary, does not sell insurance and earns no commission. Policy terms change and your own policy schedule can differ: always confirm with the policy document and the insurer before you buy or claim.","cite_as":"National Parametric Flexi Shield Insurance Policy (UIN IRDAN058CPMS0004V01202627), IndiaInsurances, https://indiainsurances.com/policy/national-insurance/national-parametric-flexi-shield-insurance-policy-irdan058cpms0004v01202627"}