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 circular on 12th August 2024 updates KYC requirements for insurers, reflecting amendments in the Prevention of Money-Launder...
Corporate Law : IRDAI mandates life insurers to submit data for specified categories to IIBI by 30 Sep 2024. Annual submissions to continue from F...
Corporate Law : Explore IRDAI's order on HDFC Life Insurance Co. Ltd., addressing violations, regulatory issues, and the insurer's submissions. De...
Corporate Law : IRDAI directs insurers to expedite claims for Wayanad landslides, with specific guidelines for response, claim processing, and com...
Corporate Law : Explore IRDAI's order against Care Health Insurance Ltd. for ESOP violations. Detailed analysis of legal implications, penalties i...
The Foreign Investment proposals up to forty-nine per cent of the total paid up equity of the Indian Insurance Company shall be allowed on the automatic route subject to verification by the Insurance Regulatory and Development Authority of India
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA IRDA/AGTS/CIR/GLD/081/04/2015, Dated- 21.04.2015 All Insurers: Re: IRDAI (Appointment of Insurance Agents) Guidelines, 2015- Instructions to Insurers. This circular is in continuation to the Guidelines on Appointment of Insurance Agents 2015 issued by the Authority vide notification dated 16.03.2015 and instructions issued vide Circular Number IRDA/ AGTS/ GDL/ CIR/ […]
In exercise of the powers conferred by clause (c) of sub-section (2) of section 24 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Central Government hereby, makes the following rules, namely:—
As per these rules, Foreign Direct Investment (FDI) proposals up to 26 per cent of the total paid-up equity of the Indian Insurance Company shall be allowed on the automatic route, and FDI proposals which take the total Foreign Investment above 26 per cent and up to the cap of 49 per cent shall require FIPB approval.
Insurance Sector has entered into the seventh year of effective AML/CFT regime. At this juncture, there is a felt need to capture certain information on AML/CFT matters on a regular basis.
The Authority has recently notified IRDA (Health Insurance) Regulations, 2013 and IRDA (Third Party Administrators – Health Services) (First Amendment) Regulations, 2013. The guidelines on ‘Standardization of Health Insurance’ have been issued by the Authority on 20th Feb., 2012.
The license granted by the Authority may be cancelled by the Authority where the surveyor and loss assessor does not represent within a period of 45 days from the date of order of suspension.
The Unique Identification Authority of India (UIDAI) created to issue a unique identification number (“Aadhaar”) to residents of India authorize/recognize “Registrars’ to enroll individuals for Aadhaar. We note that currently UIDAI has primarily engaged with State Governments, Central Ministries and public sector organizations to act as Registrars. As per the information available with the Authority, in the insurance sector only Life Insurance Corporation of India (LIC) is registered as Registrar with UIDAI.
A specified Person who resigns from a Micro Insurance Agent is eligible for reappointment as a specified person of other Micro Insurance Agent or any other licensed Corporate Agent only after the expiry of 3 months from the date of the resignation.
All the insurers are advised to publicize this among their agents so as to ensure that the maximum numbers of archived agency licenses are renewed. The insurers shall also furnish month wise data pertaining to these renewals to Joint Director,
