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 : IRDAI has cautioned that the entity's Certificate of Registration as an Insurance Marketing Firm has expired and remains unrenewed...
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...
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.
Taking into consideration the extant PML Act and Rules and the dynamics of the insurance industry, the Master Guidelines on Anti Money Laundering/Counter Financing of Terrorism (AML/CFT) are comprehensively reviewed.
Insurance product approvals made easy- -stepping towards Ease of doing business The Insurance Regulatory and Development Authority of India (IRDAI) has extended the ‘Use and File’ procedure for all the Health Insurance products and almost all the General Insurance products in line with the reforms agenda taken up towards having a fully insured India. This is […]
For PMJJBY, the second factor for calculation of Required Solvency Margin as per Form KT-1 of IRDAI (Actuarial Report and Abstract for Life Insurance Business) Regulations, 2016 is revised from 0.10% to 0.05%.
IRDA modifies definition of Critical Illnesses for Health Insurance Products. Stay updated with the latest changes in the guidelines.
