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 implementation of Ind AS for all insurers from 1 April 2026 with transitional arrangements and limited forbearance....
Corporate Law : The proposed PEPF framework seeks to improve insurance penetration through financial literacy, digital services, and awareness pro...
Corporate Law : IRDAI has proposed comprehensive amendments to insurance intermediary regulations to implement the SBSR Act, 2025. The proposals s...
Corporate Law : IRDAI's draft 2026 amendments overhaul actuarial governance, reporting, investment norms, and insurer compliance to align with the...
Corporate Law : IRDAI has released draft amendments simplifying the registration framework for foreign reinsurers and Lloyd's India while introduc...
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 extended transitional arrangements for annual fee payment and registration certificates until 31 August 2026 or notifica...
Corporate Law : IRDAI has constituted a Working Group to develop governance, oversight, and security frameworks for AI adoption in the insurance s...
Corporate Law : IRDAI has amended its earlier notification to prescribe a 4% obligatory cession and require the entire cession to be placed with G...
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...
The main objective of service agreements with motor garages/workshops shall only be providing insurance services for claims of accident vehicles and it cannot arbitrarily expand to include scope of services which are not relevant for insurance claims.
IRDAI has received representations on the rationalization of compliance requirements of Foreign Reinsurance Branches (FRBs) as they are not directly dealing with the retail customers. Further, representations have also been received from the non-life industry to dispense with the Form NL 40 on disclosure of Underwriting performance on their respective websites.
It has been decided to discontinue the filing of monthly solvency returns by the Insurers with immediate effect. However, the insurers whose solvency margin is less than 1.55 as at the end of any quarter, shall continue to report the monthly solvency position until the solvency position is restored to 1.55, by e-mail at finance-nonlife@irdai.gov.in.
These standard products replaced the Standard Fire and Special Perils (SFSP) policy for the named risks and no product other than the standard products was permitted for Fire and allied risks. Needless to add, the pricing of the products shall be commensurate to the risks involved.
IRDAI has been receiving several complaints from policyholders, both directly and through various platforms such as industry associations, that insurers are referring to the Burning Cost as a ‘mandated minimum rate’.
Insurers are not required to submit hard copies of any reports, returns or other documents related to actuarial valuation or reinsurance to IRDAI Head Office. Instead, PDF and Excel copies of the documents are to be sent to the following email IDs:
Insurance Regulatory and Development Authority of India (IRDAI) is continuously engaging with the stakeholders of the insurance industry in order to set out a reforms agenda for increasing insurance penetration and facilitating sustainable growth of the industry.
1. Prakash Kumar, former Chief Executive Officer, GST Network, is appointed as Member of the Insurance Advisory Committee from the date of notification, and 2. Venkat Changavalli, Management Consultant is appointed as Member of the Insurance Advisory Committee from the date of notification
Insurance Regulatory and Development Authority of India Ref. No:– | Date:28-04-2022 Guidelines on Group Insurance Products under Health Insurance Business and other operational matters On comprehensively examining the extant framework governing the administration of group health insurance products, in order to protect the interests of the insuring public and the insured members of group schemes, it […]
IRDAI permits all Insurers to have exposure to Financial and Insurance activities (as per section K of NIC classification) up to 30% of Investment assets.
