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 ...
Q.1 What are the Insurance Companies that offer Health Insurance in India? Ans: Health Insurance policies are offered by all Life, General and Health Insurance companies that are registered with IRDAI. The names of the Insurance companies that are registered with IRDAI are available in IRDAI website www.irdai.govl.in. Standalone Health Insurance Companies also offer Personal […]
Ministry of Finance Finance Minister Smt Nirmala Sitharaman meets heads of insurance companies for faster claim settlement FM emphasizes for streamlining process and documentation requirements under the schemes for enabling speedy claims disbursement Under PMJJBY1.2 lakh claims ofRs. 2,403 crore paid with disposal rate of 99% since 1st April 2020 till date Posted On: 05 […]
Total Foreign Investment in an Indian Insurance Company, shall mean the sum total of direct and indirect foreign investment by Foreign Investors in such company, calculated in such manner as is specified in regulations made by the Authority with regard to registration of Indian Insurance Companies
The highly asked question in the current times is definitely about the right health insurance policy. People at large extent are having a tough time in making selection between a comprehensive health insurance policy and COVID 19 specific policy, or do they really require a COVID19 related policy even when they have a health insurance […]
In rule 7 of the Insurance Ombudsman Rules, 2017, in sub-rule (2), in clause (a), after the words may authorise, the words, and in case there is a vacancy in the office of the Chairperson of the Authority, the senior-most whole-time member of the Authority shall be inserted.
Dear Friends, we know that insurance has become one of the essential needs of people during their trying times. Insurance provides us financial safety against insured perils or risks. The risks may be man made or natural. We are facing today one of the greatest and dangerous pandemic COVID-19. This is man made and emerges […]
Understand the concept of Contribution & Average Clause in insurance policies. Learn how insurers distribute loss among multiple policies, preventing excessive claims. Explore the nature of contribution, contribution clause, and its application in insurance. Differentiate contribution from subrogation and delve into the average clause, ensuring fair compensation for underinsured properties.
Central Government hereby declares every Saturday as a public holiday for Life Insurance Corporation of India, with immediate effect.
1. (1) These rules may be called the Insurance (Appeal to Securities Appellate Tribunal) Amendment Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.
1. (1) These rules may be called Indian Insurance Companies (Foreign Investment) (Amendment) Rules, 2021. (2) They shall come into force from the date of their publication in the Official Gazette.
