Finance : Electric two-wheelers are becoming a more visible part of everyday mobility in India. As the EV market grows, riders are also begi...
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...
Corporate Law : IRDAI approved in-principle drafting and publication of new and amended regulations following the Sabka Bima, Sabki Raksha (Amendm...
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 : 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 : The Authority found that core survey functions were carried out by unlicensed personnel. It held that such outsourcing violated re...
Corporate Law : The regulator cancelled a surveyor’s licence after finding false records, mismatched filings, and inaccurate disclosures. The ru...
Corporate Law : The case involved submission of a forged diploma for obtaining and renewing a licence. The Authority held that continued reliance ...
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...
We hold that the appellant could not have been directed to amend the complaint to challenge the repudiation of the contract of insurance. The appellant has stated that it does not wish to do so.
Divisional Manager, National Insurance Co. Ltd. Vs Sunil Majhi (Orissa High Court) HC held that no logic is there in the contention of the Appellant that because the accused is involved in more than one accident at different points of time, the claim of compensation contemplated under Sec.166 of the M.V. Act would be nullified […]
The Supreme Court of India has once again reiterated one of the foundational principles of Insurance Law : non-disclosure of material information by an Insured at the time of entering into a contract of insurance would entitle a prudent Insurer to repudiate a claim made under the underlying policy on such ground.
Unlocking the Significance of Certificate of Insurance (COI): Explore the crucial details encapsulated in a COI, from insured particulars to policy conditions. Understand its role in motor insurance, compliance with Motor Vehicles Act, and its legal standing. Delve into rules governing COIs, including transfer procedures and essential uses in accident claims. Navigate the intricacies of COIs with insights into the Central Motor Vehicles Rules and pertinent sections of the Motor Vehicles Act.
Understanding Assignment of Marine Insurance Policies: Explore the ins and outs, from the types of marine insurance to the principles of insurable interest. Delve into the legal aspects, discussing policy assignment, restrictions, and key provisions under the Marine Insurance Act, 1963. Learn how the nature of marine insurance policies differs from other insurance types and the critical role insurable interest plays.
Proposal Form in Insurance: Understanding the Vital Role in Policy Structure. Dive into the Purpose, Usage, and Legal Perspectives. Explore Case Laws – Warranty or Mere Description of Risk? Learn from Farr vs. Motor Traders and Roberts vs. Anglo Saxon. Know the Impact on Validity and Liability.
Reference is drawn to the provisions of IRDAI (Health Insurance) Regulations, 2016 in accordance to which every insurer shall evolve a health insurance underwriting policy covering approach and aspects relating to offering health insurance coverage not only to standard lives but also to substandard lives. Attention is also drawn to provision of The Transgender Persons (Protection of Rights) Act, 2019.
It’s that time of the year when you need to invest in different investment products to enable tax savings for FY 2021-22 OR else regret after March that you did not utilize the benefit of various deductions available for you Now a days, nobody wants to invest just for Tax savings, everybody wants such investment […]
A draft notification to prescribe base premium for Motor Third Party Insurance Premium for the Financial Year 2022-23 has been prepared and attached as Annexure B, along with Basic methodology used for arriving at the Premium Rates for Motor Third Party Insurance Cover for the Financial Year 2022-23 (Annexure -A to this letter), for inviting objections and suggestions from all persons likely to be affected thereby, before the expiry of 10 days from the date the same is placed on the MoRTH Et IRDAI website and made available to the public.
Central Government hereby notifies that the form, manner, period and details prescribed in respect of declaration to be made and particulars to be included in the register to be maintained under the Companies Act shall apply to the Life Insurance Corporation under section 5C of the Life Insurance Corporation Act, 1956
