Corporate Law : IRDAI's Bima Vahak initiative aims to expand insurance reach in rural areas. It introduces a women-centric distribution channel fo...
Corporate Law : Overview of IRDAI's 2024 Corporate Governance Regulations for Insurers, covering board composition, committee structures, KMP appo...
Corporate Law : Learn about Bima-ASBA, IRDAI's new facility for insurance premium payments. This mechanism blocks funds in a prospect's account vi...
Corporate Law : Summarizing IRDAI's 2024 regulations on insurance advertising, this text covers definitions, mandatory disclosures, prohibitions, ...
Corporate Law : Learn about IMF Registration for private limited companies, its process, requirements, and benefits. Expand into insurance marketi...
Corporate Law : IRDAI approved in-principle drafting and publication of new and amended regulations following the Sabka Bima, Sabki Raksha (Amendm...
Corporate Law : IRDAI approved drafting regulations for implementing a Risk Based Capital framework to strengthen solvency assessment and align In...
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 : Every claim made against an insurance company in respect of a loss, would be a claim within purview of claims “requiring to be p...
Corporate Law : The Supreme Court held recently held in the case of Pushpa @ Leela & Ors. Versus Shakuntala & Ors that the insurance co...
Corporate Law : The regulator held that agreements lacking clear fee provisions undermined contractual clarity and regulatory compliance. A penalt...
Corporate Law : IRDAI has directed insurers to disclose performance-linked remuneration details of Key Management Persons on their websites. The c...
Corporate Law : The case involved a broker implementing substantial shareholding changes without obtaining IRDAI's prior approval as required by r...
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...
UIDAI framework allows insurance companies to identify the customer by using his/her Aadhaar with consent management. In the absence of the Unique Customer Identification in the insurance sector, insurance companies are facing various issues while providing the services and claims apart from ease of onboarding the customers, circumventing possible frauds etc.
The Insurance Regulatory and Development Authority of India (IRDAI) has announced modifications to the Surety Insurance Guidelines, aiming to develop and expand the Surety Insurance Bonds market. The revisions include replacing solvency margin requirements, reducing the control level from 1.875 to 1.5 times, and eliminating the 30% exposure limit on each contract underwritten by 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
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
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)
Circular No. IRDAUF&I/CIR/E0M/84/4/2023 Date: 05th April 2023 IRDAI (Expenses of Management of insurers transacting Life Insurance business) Regulations 2023 – Clarifications.
Payment of Distribution Fees to Motor Insurance Service Provider -Distribution fees payable to MISP shall be as per IRDAI approved policy for payment of commission of insurer.
