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 issues a penalty of Rs. 37 lakhs to Prowess Insurance Brokers for regulatory violations. Read the full order details and imp...
Corporate Law : Explore IRDAI's final order on Aegon Life Insurance (now Bandhan Life) regarding violations of AML and policyholder protection reg...
Corporate Law : IRDAI introduces new insurance reforms focusing on policyholder empowerment, grievance redressal, and transparency in operations. ...
Corporate Law : Read about the latest reforms in the Indian life insurance sector by IRDAI, aimed at simplification, transparency, and informed de...
Corporate Law : Explore IRDAI's comprehensive reforms in the general insurance business post de-tariffication, focusing on customer-centric measur...
Indian life insurance market currently has several individual immediate annuity products marketed by life insurers, with each product having its own features, terms and conditions and annuity options.
The committee is of the view that, given the potential opportunity for motor insurance business through the MISPs, there is a need to develop and strengthen regulatory framework and supervision activities for this distribution channel. It was also suggested that the registration, operational and code of conduct requirements across similar intermediaries remain the same.
a. All Cross Border Reinsurers (CBR) shall necessarily comply with the eligibility criteria as stipulated in Reg. 4 (1) of the IRDAI (Re-insurance) Regulations, 2018. b. Filing of application for allotment of FRN to CBR shall be commensurate with Re-insurance programme of the insurer, as submitted with the Authority in terms of the IRDAI (Re-Insurance) Regulations, 2018;
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No:– Date:20-01-2021 Exposure Draft Re: Report of the Working Group (WG) to Study Cyber Liability Insurance. A Working Group was set up by the Authority vide order Ref: IRDAI/NL/ORD/MISC/260/10/2020 dated 19th October, 2020 to Study Cyber Liability Insurance. The Working Group has submitted its report in two parts, Part-I (Page. No:1 […]
The Committee has submitted its report in which it has made recommendations with regard to preparation of standard professional indemnity policy which covers all the contingencies and conditions (retroactive date, indemnity limits, excess, etc) mentioned in the regulations which can be issued by all insurers.
Report of the Working Group (WG) to examine and recommend linking of motor insurance premium with traffic violations. A Working Group was set up by the Authority vide order Ref: IRDAI/NL/ORD/MISC/153/09/2019 dated 6th September, 2019 to examine and recommend linking of motor insurance premium with traffic violations.
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No: IRDAI/HLT/ORD/Misc/010/01/2021 Date:13-01-2021 ORDER Re: Constitution of Health Insurance Advisory Committee 1. Health Insurance in India has grown significantly in recent years and is expected to continue in the coming years. Insurance Industry is offering various products/services to cater to the needs of the society and also […]
All the insurers are directed to ensure that the Reimbursement claims under a health insurance policy shall be settled as per the terms and conditions of the respective policy contract. Hence, the insurers shall honor all the health insurance claims as per the terms and conditions of the policy contract.
To give a fillip to insurance penetration and to facilitate innovations in the insurance sector, especially those triggered by technology the IRDAI notified the IRDAI (Regulatory Sandbox) Regulations, 2019 on 26th July, 2019. The Regulations are valid for a period of 2 years from the date of publication in the official gazette.
The Unexpired Premium Reserve [UPR] provisions formed part of Para 2 of Schedule B of IRDA (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations, 2002. On notification of Insurance Laws (Amendment) Act, 2015, the provisions of Section 64V (1)(ii)(b) have been deleted. Accordingly, the said provisions of UPR mentioned in the Regulation were amended through a circular as a stop gap arrangement.
