Finance : Section 10(10D) provides exemption only when premium limits are within prescribed thresholds. If premiums exceed these limits, mat...
Finance : The article highlights the need for integrated travel and health insurance to manage both medical emergencies and trip disruptions...
Income Tax : Even where premium limits are exceeded, death benefits continue to be fully exempt. This ensures protection for beneficiaries. The...
Finance : Cyber insurance helps cover financial losses from cyberattacks like hacking and data breaches. It is becoming essential as digital...
Finance : The restoration feature ensures that insurance coverage can be reinstated after a major claim, helping maintain protection for oth...
Corporate Law : IRDAI formed a sub-committee to review private health insurance and improve policyholder experience. The initiative focuses on exp...
Corporate Law : The issue concerns identification of systemically important insurers. The regulator retained the same entities, emphasizing their ...
Corporate Law : IRDAI directs insurers to follow anti-dark pattern guidelines and submit compliance reports. The move strengthens consumer protect...
Corporate Law : The Government clarified that claim rejections are based on policy conditions like exclusions and OPD classification. IRDAI mandat...
Corporate Law : IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transpar...
Corporate Law : Supreme Court held that insurers impleaded as parties can raise all grounds, including quantum challenges. It remitted the case fo...
Income Tax : The SC upheld that reinsurance premiums paid to foreign entities are not taxable in India. It confirmed that absence of income acc...
Income Tax : The High Court held that reinsurance premiums paid to non-residents are not taxable in India and no TDS is required. It upheld Tri...
Corporate Law : SC affirmed a fire insurance claim after insurer attempted repudiation based on an arbitrary surveyor's report. Ruling held that o...
Corporate Law : Supreme Court rules pre-2015 life insurance policies were freely transferable, affirming High Court's decision against LIC's refus...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The issue was the need to address increasing cyber risks in the insurance sector. IRDAI introduced updated guidelines with enhance...
Corporate Law : The circular shifts SLAs from a renewal-based licensing system to a registration regime with annual fees. This ensures continuity ...
Corporate Law : IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers ...
Insurance coverage/Guarantee for oocyte donor. (i) The Intending couple or woman will purchase a general health insurance coverage in favor of oocyte donor for a period of 12 months from an insurance company or an agent recognized by the Insurance Regulatory and Development Authority established under the provisions of the Insurance Regulatory and Development Authority Act, 1999 for an amount which is sufficient enough to cover all expenses for all complications arising due to oocyte retrieval.
Draft Insurance Regulatory and Development Authority of India (Insurance Advertisements and Disclosure) (Amendment) Regulations, 2023
We may look sound and healthy, but health emergencies do not give prior notice. We are witnessing a rise both in health risks and medical inflation.
Guidelines on Remuneration of Non-Executive Directors and Key Managerial Persons of Private Sector Insurers give more clarity to the extent of variable pay with respect to the total remuneration of Directors and KMPs, Variable Pay Deferral, Malus and Clawback provisions, Accounting, Disclosures, etc. and
The National Financial Reporting Authority (NFRA) held a meeting to examine the proposals received from the Institute of Chartered Accountants of India (ICAI), as required u/s 133 of the Companies Act, 2013), regarding a new Standard (Ind AS) for accounting of insurance contracts viz. Ind AS 117, here yesterday. The meeting was attended by the […]
Revised Guidelines are hereby issued in order to enable the insurance industry to strengthen their defenses as well as related governance mechanism to deal with such emerging cyber threats.
Insurance Regulatory & Development Authority Master Circular Ref: IRDAI/F&I/CIR/RIC/90/4/2023 Date: 24.04.2023 Master Circular on Registration of Indian Insurance Company, 2023 The Authority has notified the IRDAI (Registration of Indian Insurance Companies) Regulations, 2022 (herein after referred to as “Regulations”). In exercise of the powers conferred by Section 14 of the IRDA Act, 1999, the Authority hereby […]
Procedure for Implementation of Section 12A of Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 (WMD Act)
All personal injury cases require the opposing parties to prove negligence. In Illinois, even if you were hurt due to someone else’s negligence, that doesn’t mean you will receive compensation for your losses.
Navigate the complex tax implications of life insurance policies, ULIPs, and Keyman policies. Uncover the latest changes introduced by the Finance Act, 2023. Explore the tax status of normal life insurance policies, ULIPs, and Keyman insurance policies, ensuring you make informed financial decisions. From premium limits to TDS considerations, stay updated on the taxation landscape.
