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...
Standards and Benchmarks for the Hospitals in the provider Network- taking into consideration the prevailing COVID-19 pandemic, the timelines for complying with the standards and benchmarks stands extended for a further period of one year for all the existing network providers as on the date.
IRDAI notifies Insurance Regulatory and Development Authority of India (Indian Insurance Companies) (Amendment) Regulations, 2021 vide Notification No. F. No. IRDAI/ Reg/6/178 /2021 Dated 7th July, 2021. INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 7th July, 2021 Insurance Regulatory and Development Authority of India (Indian Insurance Companies) (Amendment) Regulations, 2021 F. No. […]
The Broker who is operating since 2003 is well aware that the Business Interruption (BI) policy in India covers losses under this policy only if the claim under Material Damage section is admissible. The Brochure clearly advices Salasar’s clients, in the interim, to lodge the claim and also states that insurer prima facie may deny the claim which can be contested later.
it is concluded that the TPA did not fulfill the Minimum Business Requirements during 2019-20 in any of the parameters as specified under regulation 14 of TPA Regulations, 2016 read with the Minimum Business norms as stipulated under Annexure-11 of Circular Ref: IRDAI/TPA/REG/CIR/130/06/2020 dated 03rdJune 2020. It is also observed that on an average basis […]
i. The Broker was using a website carrying the name ‘renewbuy’ for soliciting insurance business without visibly and clearly displaying Broker’s name on the said website. This is a clear violation of Clause 1 of Schedule VIII under Regulation 22 of IRDA (Insurance Brokers) Regulations) 2013. The Broker has submitted that they had informed the […]
In the light of the violations of Regulation 19(9) of TPA Regulations, the Authority after careful consideration of the seriousness of violations observed and in exercise of the powers vested under Regulation 16(1) of IRDAI (TPA-Health Services) Regulations, 2016, hereby revokes the certificate of registration No. 029 granted to Grand TPA with immediate effect.
IRDAI has Imposed Penalty of Rs. 8 Lakh on Interocean Insurance Suveyors And Loss Assessors Pvt. Ltd. For Acceptance of survey works in areas for which the Surveyor does not hold a license. It also cautioned it for Delay in submission of survey reports and issued advisory for Failure to intimate the opening of branches. […]
Q.1 What are the Insurance Companies that offer Health Insurance in India? Ans: Health Insurance policies are offered by all Life, General and Health Insurance companies that are registered with IRDAI. The names of the Insurance companies that are registered with IRDAI are available in IRDAI website www.irdai.govl.in. Standalone Health Insurance Companies also offer Personal […]
Ministry of Finance Finance Minister Smt Nirmala Sitharaman meets heads of insurance companies for faster claim settlement FM emphasizes for streamlining process and documentation requirements under the schemes for enabling speedy claims disbursement Under PMJJBY1.2 lakh claims ofRs. 2,403 crore paid with disposal rate of 99% since 1st April 2020 till date Posted On: 05 […]
As you are aware, cyclone Tauktae and cyclone Yaas have caused loss to property in some parts of the country. The General Insurers may have issued policies for protection of lives and property located in the affected areas. There is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims.
