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...
The insurers carrying out Life, General and Health insurance business need to value their insurance business liability every year by Appointed Actuary of the insurer. This is also applicable to the Reinsurers operating reinsurance business. As per the existing Assets, Liabilities and Solvency Margin Regulations the Appointed Actuaries of the insurers are solely responsible for the insurance liability number incorporated in the Balance Sheet.
The Authority as part of its developmental mandate and to reach out to the policyholders in a cost efficient manner has taken number of steps. This includes issuing revised guidelines on insurance repositories, insurance e-commerce, issuance of electronic insurance policies, maintenance of electronic records, etc.
Authority vide circular dated 21st October, 2013 and AML Master Circular dated 28th September, 2015 allowed Aadhaar based e-KYC service offered by UIDAI for KYC verification. 2. It is hereby clarified that for accessing the details of the client from UIDAI for identification and authentication shall be with the consent of the client on a voluntary basis.
Annexure –I (a) – Pure Term Insurance Product with or without return of Premium wherein the maximum Limit of Sum Assured under the Pure Term Product was capped up to Rs 25 Lakhs (excluding ADB Rider) Only
Attention is drawn to IRDAI’s (Payment of commission, remuneration or reward to insurance agent or insurance intermediaries) Regulations, 2016 notified on 14th December, 2016 in the official gazette.
The world of technology is dynamic. Technology constantly makes waves in every field and the insurance industry too has benefitted immensely from the advantages technology offers. In this paper, we restrict ourselves to the concept of ‘Telematics’ and the role it can play in Motor Insurance.
All insurers having unclaimed amounts of policyholders for a period of more than 10 years as on 30th September, 2017 need to transfer the same to the Senior Citizens’ Welfare Fund (SCWF) on or before 1st March, 2018.
Implementation of Ind AS in the Insurance Sector in India has been deferred for a period of two years and the same shall now be implemented effective 2020-21.
1. These regulations may be called The Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests) Regulations, 2017. 2. These regulations shall come into force from the date of their publication in the official Gazette of the Government of India and supersede Insurance Regulatory and Development Authority (Protection of Policyholders’ Interests) Regulations, 2002 and any clarification circulars/guidelines issued in this regard.
Procedure to be followed to deal with resignation of Insurance Sales Persons (ISPs) of Insurance Marketing Firms (IMFs). On receipt of resignation letter from an ISP, the IMF has to forward the same along with the copy of its registration certificate either to the Life Insurance Council or General Insurance Council as per the above allocation under intimation to the Authority.
