insurance companies

Corporates looking to enter the banking business will have wait for some more time, as the government is considering amendment of the Banking Regulation Act and Banking Laws Act before finalising the guidelines for giving new licences. The final guidelines on the new banking licences would be released only after the necessary amendments to the Banking Regulation Act and Banking Laws Act are cleared by Parliament, official sources said. Full Article

Insurance – Guidelines on Outsourcing of Activities by Insurance Companies Reference: 1.    INV/CIR/031/2004-05 dated 27th July, 2004 2.    INV/CIR/058/2004-05 dated 28th December, 2004 3.    RBI/2006/167 DBOD.NO.BO.40/21.04.158/2006-07 4.    Regulation 7(c) of IRDA (Registration of Companies) Regulations, 2000 IRDA/LIFE/CIR/GLD/013/02/2011, DATED 1-2-2011 1. Introduction 1.1 Insurers in India are increasingly using outsourcing, as a means of both reduc.. Full Article

The Insurance Regulatory and Development Authority (Irda) today asked insurance companies to refrain from charging policyholders differential premium without prior approval of the watchdog. In the papers submitted to Irda before launching any product Full Article

The Insurance Regulatory and Development Authority (Irda) will soon issue guidelines for listing of insurance companies and portability of motor and health insurance policies between companies, Chairman Hari Narayan has said. On listing of non-life i Full Article

CIRCULAR NO. IRDA/LIFE/CIR/REF/179/11/2010, DATED 11-11-2010 Please refer IRDA (Sharing of Database for Distribution of Insurance Products) Regulations, 2010 (hereinafter referred as “Regulations”) notified by IRDA on 1st July, 2010. The process of seeking grant of approval of Referral Company is stipulated in Regulation 3 of Chapter II of the Regulations. In order to streamline the [...] Full Article

All Insurers are increasingly using outsourcing, as a means of both reducing cost and accessing specialist expertise, not available internally and achieving strategic aims. 'Outsourcing' may be defined as Insurer’s use of a third party (either an af Full Article

Insurance regulator IRDA is not in favour of allowing initial public offers (IPOs) by life insurers who have been in business for less than ten years, a condition holding up the IPO guidelines for the sector. The companies who have been operational f Full Article

Certain specified expenditure such as non-compete fee, business reorganization expenses, etc. shall be allowed on a deferred basis over a period of 6 years. However, expenditure incurred by a resident on any operations relating to prospecting for any Full Article