Corporate Law : As per requirement of Ministry of Corporate Affairs, to use the word Insurance, prior no-objection certificate shall be obtained f...
Corporate Law : IRDA modifies definition of Critical Illnesses for Health Insurance Products. Stay updated with the latest changes in the guidelin...
Corporate Law : Learn about adhering to the timelines of award settlement as per Rule 17(6) of Insurance Ombudsman Rules, 2017. Find out why it's ...
Corporate Law : Understanding IRDAI (Investment) (Fifth Amendment) Regulations, 2013 and their impact on insurance companies in India....
Corporate Law : IRDAI (Surety Insurance Contracts) Guidelines, 2022 shall be applicable to all Insurers registered under the Insurance Act, 1938, ...
Corporate Law : Explore IRDAIs consolidated Master Circular on Submission of Returns effective April 2024. Simplify compliance with 202 regulatory...
Corporate Law : Discover how IRDAI's recent regulatory overhaul aims to foster innovation, competition, and sustainable growth while protecting po...
Corporate Law : Learn about the draft IRDAI (Protection of Policyholders' Interests & Allied Matters of Insurers) regulations 2024, including prov...
Corporate Law : Explore the key provisions & implications of IRDAIs proposed regulations on rural, social sector & motor third party obligations. ...
Corporate Law : Explore the proposed IRDAI Regulations 2024, consolidating key insurance rules. Learn about changes, clarity on capital structure,...
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 : IRDAI circular on 12th August 2024 updates KYC requirements for insurers, reflecting amendments in the Prevention of Money-Launder...
Corporate Law : IRDAI mandates life insurers to submit data for specified categories to IIBI by 30 Sep 2024. Annual submissions to continue from F...
Corporate Law : Explore IRDAI's order on HDFC Life Insurance Co. Ltd., addressing violations, regulatory issues, and the insurer's submissions. De...
Corporate Law : IRDAI directs insurers to expedite claims for Wayanad landslides, with specific guidelines for response, claim processing, and com...
Corporate Law : Explore IRDAI's order against Care Health Insurance Ltd. for ESOP violations. Detailed analysis of legal implications, penalties i...
Given that a significant part of the premium is being accounted on estimation basis, a need is felt to lay down guidelines to govern the accounting and disclosures of premium recognized on estimation basis in the annual report.
remium receivables related to State / Central Government sponsored schemes for all quarters of the FY 2022-23 and onward to the extent that they are not realized within a period of 365 days shall be placed with value zero.
In its continuous endeavor towards the reform agenda taken up towards having a fully insured India, Insurance Regulatory and Development Authority of India (IRDAI) has extended the ‘Use and File’ procedure for most of the Life Insurance products. This means now the life insurance companies can also launch these products without prior approval of IRDAI. […]
Reduced compliance burden for insurance companies IRDAI, in its continuous endeavour towards promoting ease of doing business for insurance companies in India, has reviewed and rationalized the regulatory returns to be filed by the Insurance Companies. In its latest circular dated 10.06.2022, IRDAI has reduced the number of off-line returns being submitted by Life Insurers […]
As you are aware, ENVOY portal, maintained by Insurance Information Bureau (IIB) is the central database for various categories of insurance sales persons working for insurance industry in India.
Insurance Regulatory and Development Authority of India Appointed Actuary (AA) Regulations Background: An Appointed Actuary (AA) plays an important statutory role in an insurance company. The IRDAI (Appointed Actuary) Regulations, 2017 prescribe the “Eligibility Criteria” and “Duties and Obligations” of an AA along with other provisions. The Authority is in receipt of requests to review […]
IRDAI has reduced the capital required to be held by insurers offering PMJJBY, by almost 50%. This move will enable life insurers to offer more policies under the scheme, and provide financial security to bottom of the pyramid of Indian population, through life insurance.
IRDAI has received representations on the rationalization of compliance requirements on Public Disclosures of Foreign Reinsurance Branches (FRBs) and Lloyd’s India as they are not directly dealing with retail customers.
Insurance Regulatory and Development Authority of India Order No. IRDAI/F&A/ORD/MISC/109/6/2022 | Dated: 02nd June 2022 Sub: – In the matter of Aditya Birla Health Insurance Co. Ltd. – Section 40C Exemption Order 1. Section 40C of Insurance Act, 1938 read with Regulation 11(i) of the IRDAI (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations, 2016 […]
Para 7.2(I) and 7.2 (III) of Guidelines on Product Filing Procedures for General Insurance products stands modified to the above effect (Para 3). All the other provisions and requirements of Guidelines on ‘Product Filing Procedures for General Insurance products’ shall remain applicable.
