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...
IRDAI directs Insurers to classify Infrastructure investments, issued by Infrastructure Companies, rated not less than A along with an Expected Loss Rating of EL1 as part of Approved Investment and should be listed under Category Code IELB as per Category of Investment under Master Circular – Investments.
For the purpose of Regulation 9 of the IRDAI (Assets, Liabilities and Solvency Margin of Life Insurance Business) Regulations, 2016 and Regulation 9 of the IRDAI (Assets, Liabilities and Solvency Margin of General Insurance Business) Regulations, 2016, it is clarified that the Appointed Actuary will be intimated well in advance through a communication to be sent by an officer of the Authority not below the rank of Deputy General Manager about the reasons for seeking his/her personal visit to the Authority.
The penalty amount of Rs. 5 lakhs (Rupees five lakh only) shall be remitted by the Insurer by debiting the shareholders’ account within a period of forty five days from the date of receipt of this order through NEFT/RTGS (details for which will be communicated separately).
he penalty of Rs. 10,00,000/- (Rupees ten lakh only) shall be remitted by the insurer through NEFT/RTGS (bank account details will be communicated separately) within a period of 15 days from the date of receipt of this order.
Insurers and insurance intermediaries are therefore advised to upload the Half yearly data on POS portal commencing from the financial year 2020-21. The half yearly data upto September shall be uploaded by 31.01.2021 and the data upto 31.03.2021 by 30.04.2021. In future the half yearly data upto 30/09 shall be uploaded on or before 30/10 and data upto 31/3 by 30/4.
IRDAI vide its Ref. No: IRDA/IT/GDL/MISC/ 082/04/2017 dated 07-4-2017 had issued Information and Cyber Security Guidelines containing comprehensive cyber security framework for Insurance sector for the purpose of implementing appropriate mechanism to mitigate cyber risks
Insurance Regulatory and Development Authority Ref: IRDAI/Life/Cir/MISC/302/12/2020 29th Dec 2020 This has reference to the Master Circular on Point of Sales Products and Persons — Life Insurance Ref: IRDAI/Life/Cir/M ISC/215/12/2019 dated 2nd December 2019. On consideration of representations received from Life Insurers, the following relaxations/modifications are allowed with immediate effect. Annexure II (a) – Pure […]
This notification issued in terms of Section 64 ULA (1) of the Insurance Act, 1938 provides for de-notification of the rates, advantages and terms and conditions laid down by the Tariff Advisory Committee under Section 64 UC of the said Act which were deemed to continue to be in force until such de-notification.
Obligatory Cession for the financial year 2021-22- This notification shall be applicable to Indian Re-insurers and other applicable insurers as per the provisions of Section 101A of the Insurance Act, 1938.
Reference is drawn to clause 5 of Chapter-II of Consolidated Guidelines on Product filing in Health Insurance Business stipulating mandatory disclosures in the prospectus of health insurance products and to clause 6 specifying Customer Information Sheet.
