insurance sector

How NBFCs Can Venture into Insurance Business

Finance - Non-Banking Financial Companies (NBFCs) have been trying to enter the markets of insurance business for a long time. In 2000, the Central Bank of Indian Government, i.e. RBI gave a green light to them and the NBFCs since then are operating in the Insurance sector....

Read More

Doctrine of Reinstatement & Insurance

Finance - Reinstatement of any property generally means replacement of what is lost or repairing the damaged property by bringing it to its original value and usefulness. In case of total destruction of an asset, the company generally replace the same with new assets or if possible, repair the old one to bring it at the same […]...

Read More

How Can You Get an Estimate of Life Insurance Premium?

Finance - Life insurance offers multiple benefits in the form of protection, tax savings, wealth creation, and more. In general, a life insurance policy is simply about having financial assistance ready for you, like a safe haven, to protect not only you but also your family in your absence. These policies are designed to provide financial assistan...

Read More

Concept of Own Risk Solvency Assessment (ORSA)

Finance - The insurance companies being a financial institution prone to various types of risks. They treated as custodian to the funds of general public and hence to serve its policyholders properly they have to manage and mitigate various types of risk. These companies are taking risks of general public in lieu of payment of small amount [&hellip...

Read More

Concept of Reinsurance and Risk Management

Finance - CONCEPT OF REINSURANCE  The Insurance companies generally take risks of insured in return for the premium. We know that these insurance companies are also prone to various types of risks. Since they are engaged in Financial Services and hence risks related to finance is huge in modern scenario. These risks increase more and more after [&...

Read More

Corona Kavach Policy – FAQs

Finance - Frequently Asked Questions on ‘Individual Covid Standard Health  Policy: Corona Kavach Policy’ Q.1 Whether all the insurers shall offer ‘Corona Kavach Policy’? Ans. All the General and Standalone Health Insurers are mandated to offer Individual Covid Standard Health Policy “Corona Kavach Policy”. Q.2 How many ...

Read More

FAQs on Guidelines on Arogya Sanjeevani Policy

Finance - 1. Whether all the insurers shall offer ‘Arogya Sanjeevani Policy’? All the General and Standalone Health insurers are mandated to offer Standard Individual Health Insurance Product ‘Arogya Sanjeevani Policy’. However, if any insurer is currently not offering indemnity based health insurance products at all, the ab...

Read More

Summary of Report on Motor Third Party Insurance Regulations

Finance - The WG has come up to a conclusion that the MTP Obligation should be a function of number of vehicles insured/uninsured instead of premium derived from motor third party insurance business and accordingly a simple & equitable formula for calculating the MTP Obligation has been proposed....

Read More

Unfair Business Practice by Insurance Companies

Finance - The Insurance Regulatory and Development Authority of India (IRDAI) has put in place Integrated Grievance Management System (IGMS), which captures the complaints registered against all insurers. A statement showing the number of complaints received and attended to in the said system against both public and private general insurers during ...

Read More

Unclaimed Deposits in Banks and Insurance Companies

Finance - (i) All insurers are required to display the information about any unclaimed amount above Rupees 1000/- of Policyholders in their respective web-site. (ii) A facility shall be given in the web-site of the insurer to enable Policyholders / or its dependents to find out whether any unclaimed amounts due to them are lying with the insurer....

Read More

Motor Accident Claims Tribunal not empowered to entertain Claim Petition under Motor Vehicles Act

The Cholamandalam MS General Insurance Company Limited Vs Ramesh Babu (Madras High court) - The Cholamandalam MS General Insurance Company Limited Vs Ramesh Babu (Madras High court) In the present case, the Personal Accident Coverage Policy has been agreed between the appellant/Insurance company as well as the respondent. Rs.2,00,000/- is fixed under the Personal Accident Coverage Policy. ...

Read More

Section 10(34) Exemption w/o disallowing expenses u/s 14A for Insurance Co.

Max Life Insurance Company Ltd. Vs DCIT (ITAT Delhi) - Max Life Insurance Company Ltd. Vs DCIT (ITAT Delhi) The issue under consideration is whether assessee is liable for exemption u/s 10(34) of the Act without disallowing any expenditure under section 14A? ITAT noted that this issue is duly covered by decision of Mumbai Bench of this Tribunal in case ...

Read More

Additional Grace Period For Life Insurance Policies Up to 31.05.2020

Ref: IRDAI/Life/Grace Period - (09/05/2020) - As the lockdown has been further extended up to 17th May 2020, keeping in view the difficulty faced by some policyholders to renew the policies in time, the Authority has now allowed extended grace period up to 31st May 2020 for all policies where premium was due in the month of March 2020....

Read More

No dividend pay-outs from profits of FY 2019-20: IRDAI instructs Insurers

Ref. No: IRDA/F&A/CIR/MISC/099/04/2020 - (24/04/2020) - Insurers are urged to take a conscious call to refrain from dividend pay-outs from profits pertaining to the financial year ending 31st March 2020, till further instructions....

Read More

Insurance companies allowed to do KYC through Aadhaar Authentication

G.S.R. 262(E) - (23/04/2020) - To facilitate general public to easily fulfil Know Your Customer (KYC) norms while availing insurance services, IRDAI has recommended for allowing insurance companies to avail Aadhaar Authentication Services of the Unique Identification Authority of India....

Read More

Allotment of Filing Reference Number (FRN) for Cross Border Reinsurers

Ref: IRDA/RI/CIR/MISC/97/04/2020 - (22/04/2020) - On the basis of the submissions made by Cross Border Reinsurer (CBR) and recommendations of the insurers, the Authority has granted approval to the below mentioned CBR’s , who do not fulfil stipulated eligibility criteria....

Read More

Renewal Health insurance premium allowed to be made till 15.05.2015

Notification No. S.O. 1259(E) / Circular No. Ref: IRDAI/HLT/ CIR/MISC/091 /04/2020 - (15/04/2020) - The policy holders whose health insurance policies fall due for renewal during the period on and from the 25th March, 2020 up to the 3rd May, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disea...

Read More

Recent Posts in "insurance sector"

How NBFCs Can Venture into Insurance Business

Non-Banking Financial Companies (NBFCs) have been trying to enter the markets of insurance business for a long time. In 2000, the Central Bank of Indian Government, i.e. RBI gave a green light to them and the NBFCs since then are operating in the Insurance sector....

Read More
Posted Under: Corporate Law |

Doctrine of Reinstatement & Insurance

Reinstatement of any property generally means replacement of what is lost or repairing the damaged property by bringing it to its original value and usefulness. In case of total destruction of an asset, the company generally replace the same with new assets or if possible, repair the old one to bring it at the same […]...

Read More
Posted Under: Corporate Law |

How Can You Get an Estimate of Life Insurance Premium?

Life insurance offers multiple benefits in the form of protection, tax savings, wealth creation, and more. In general, a life insurance policy is simply about having financial assistance ready for you, like a safe haven, to protect not only you but also your family in your absence. These policies are designed to provide financial assistan...

Read More
Posted Under: Corporate Law |

Concept of Own Risk Solvency Assessment (ORSA)

The insurance companies being a financial institution prone to various types of risks. They treated as custodian to the funds of general public and hence to serve its policyholders properly they have to manage and mitigate various types of risk. These companies are taking risks of general public in lieu of payment of small amount [&hellip...

Read More
Posted Under: Corporate Law |

Concept of Reinsurance and Risk Management

CONCEPT OF REINSURANCE  The Insurance companies generally take risks of insured in return for the premium. We know that these insurance companies are also prone to various types of risks. Since they are engaged in Financial Services and hence risks related to finance is huge in modern scenario. These risks increase more and more after [&...

Read More
Posted Under: Corporate Law |

Here’s Why 30’s Is the Perfect Time to Buy Health Insurance Plans in India

A medical emergency can heavily impact your emotional as well as financial life. Hence, it is prudent that you buy a health insurance plan early in life. You should even consider buying critical illness insurance and personal accident insurance for specific coverage. Moreover, when you buy health insurance plans in your early 30s, you get...

Read More
Posted Under: Corporate Law |

Corona Kavach Policy – FAQs

Frequently Asked Questions on ‘Individual Covid Standard Health  Policy: Corona Kavach Policy’ Q.1 Whether all the insurers shall offer ‘Corona Kavach Policy’? Ans. All the General and Standalone Health Insurers are mandated to offer Individual Covid Standard Health Policy “Corona Kavach Policy”. Q.2 How many ...

Read More
Posted Under: Corporate Law |

FAQs on Guidelines on Arogya Sanjeevani Policy

1. Whether all the insurers shall offer ‘Arogya Sanjeevani Policy’? All the General and Standalone Health insurers are mandated to offer Standard Individual Health Insurance Product ‘Arogya Sanjeevani Policy’. However, if any insurer is currently not offering indemnity based health insurance products at all, the ab...

Read More
Posted Under: Corporate Law |

Insure Your Life in 100% Cashless Way!!

Max Bupa Health Insurance has come up with a Brand New Max Bupa ReAssure Health Insurance Plan. which will give you complete coverage not only against COVID-19 but for all medical needs....

Read More
Posted Under: Corporate Law |

Motor Accident Claims Tribunal not empowered to entertain Claim Petition under Motor Vehicles Act

The Cholamandalam MS General Insurance Company Limited Vs Ramesh Babu (Madras High court)

The Cholamandalam MS General Insurance Company Limited Vs Ramesh Babu (Madras High court) In the present case, the Personal Accident Coverage Policy has been agreed between the appellant/Insurance company as well as the respondent. Rs.2,00,000/- is fixed under the Personal Accident Coverage Policy. The Tribunal has granted a sum of Rs.2,1...

Read More

Browse All Categories

CA, CS, CMA (5,116)
Company Law (6,810)
Custom Duty (8,167)
DGFT (4,429)
Excise Duty (4,420)
Fema / RBI (4,501)
Finance (4,728)
Income Tax (35,529)
SEBI (3,796)
Service Tax (3,648)

Search Posts by Date

January 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031