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 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...
Corporate Law : The case involved submission of a forged diploma for obtaining and renewing a licence. The Authority held that continued reliance ...
Corporate Law : IRDAI delegates Section 34 powers between Whole Time Members and Chairperson. The move aims to streamline enforcement actions and ...
Corporate Law : The notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Multiple surveys were conducted on the same day across different locations. Some of the sample surveys in Delhi were not conducted by the licensed surveyor as the surveyor was not in Delhi. Rather the assigned surveyor was conducting surveys in Kerala or Bihar on the concerned dates. The surveyor did not visit the site himself and only signed the report.
Extension of timelines for sale and renewal of short term Covid specific health insurance policies- Corona Kavach Policies and Corona Rakshak Policies are permitted to be offered and renewed by all insurers up to 31.03.2022.
The exemptions granted for issuance of electronic policies as well as dispensing with physical document and wet signature have been extended upto the period 31/03/2022.
Insurance Regulatory and Development Authority of India (Insurance Information Bureau of India) Regulations, 2021 In exercise of the powers conferred by clauses (e) and (f) of sub section (2) of section 14 of Insurance Regulatory and Development Authority
Title insurance is a form of indemnity insurance that protects a potential owner of a property against financial loss from defects in title to real property. The policy is a retrospective one where the insured is protected against losses arising from the events that occurred prior to the date of issuing the policy.
Insurance Regulatory and Development Authority of India had set up a Working Group to study the feasibility of General Insurers to underwrite Surety Insurance. The Authority, upon examining the recommendations of the Working Group report, stakeholders’ comments and considering the specific nature of Surety insurance as a product, has proposed separate guidelines to regulate the Surety Insurance business. Accordingly, the draft guidelines are prepared and placed in the annexure.
Insurance Regulatory and Development Authority of India Survey No.115/1, Financial District, Nanakramguda, HYDERABAD 500 032. IRDAI/NL/GDL/MISC/244/09/2021 8th September, 2021 To The Chairman-Cum- Managing Directors/Chief Executive officers of General Insurance Companies (except ECGC Ltd and AIC Ltd) Madam/Sir, IRDAI (Trade Credit Insurance) Guidelines, 2021 The revised guidelines on Trade Credit insurance are hereby issued considering the […]
Insurance Regulatory and Development Authority of India Circular Ref. No: IRDAI/NL/CIR/MISC/242/09/2021 Date:08-09-2021 ALL GENERAL INSURERS (Other than Stand Alone Health Insurers and Specialised Insurers) Re: Product Structure for Cyber Insurance There are rising incidences of cyber attacks along with a growing number of high profile data breaches. The online exposures for individuals, business organizations, offices and other […]
The Broker started his business during FY 2015-16 and the premium business is more than 10 crores during the FYs 2015-16, 2016-17 and 2018-19 and as per IRDAI (Insurance Brokers) Regulations, 2013 it is mandatory for an insurance broker to have a designated compliance officer if their business in a financial year is more than Rs 10 crores of premium.
Read IRDAI’s guidelines urging General Insurance Companies to expedite claims for July 2021 floods in Maharashtra. Steps, contacts, and awareness highlighted for efficient claim settlement.
