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...
In order to make available a standard Personal Accident product with common coverage and policy wordings across the industry, an exposure draft on Guidelines on Standard Personal Accident product along with Standard terms and conditions (Annexure -1), Customer Information Sheet (Annexure- 2) and Use and File format (Annexure-3) is issued and attached herewith.
The Authority has notified IRDAI (Minimum Information Required for Investigation and Inspection) Regulations 2020 in the official gazette on 23rd November 2020. These regulations will come into force after 6 months from the date of notification i.e., from 23rd May 2021.
There are some reports in the media about hike in health insurance premium rates by general and health insurers. Some of the news items attributed the increase in health insurance premiums to certain recent regulatory initiatives taken by IRDAI.
As you are aware, cyclone Nivar (Nov,2020) has 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.
1. This has reference to Notification of IRDAI (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2020 whereby a. Vide Regulation 21(3) insurer are required to file with the Authority report on misconduct of licensed surveyors annually b. Vide Regulation 21(4) Insurers are required to maintain half yearly data in the prescribed format.
These guidelines set out the detailed procedure for practical training for obtaining fresh / renewal licence to act as a surveyor and loss assessor. These guidelines are being issued in terms of Sec.14 of IRDAI Act, 1999 and in terms of Regulation 28 of Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015 and amendments thereof.
1. These guidelines set out the procedure for obtaining fresh license or renewal of licence to act as a surveyor and loss assessor. 2. The guidelines are being issued under Sec.14 of the IRDAI Act,1999 and in terms of Regulations 28 of Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015.
Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2020 INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 24th November, 2020 Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2020 F. No. IRDAI/Reg/4/170/2020.—In exercise of the powers conferred by clause (x) and […]
a. These Regulations may be called Insurance Regulatory and Development Authority of India (Minimum Information Required for Investigation and Inspection) Regulations, 2020.
Insurance Regulatory and Development Authority of India Ref. No: IRDA/F&A/CIR/Misc/282 /11/2020 Date:18-11-2020 All Life/ General/ Health Insurers Master Circular: Unclaimed Amounts of Policyholders The Authority has issued various directions regarding the Unclaimed Amounts of Policyholders from time to time. All such directions were consolidated and issued in the form of a Master Circular dt. 25th July, […]
