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, ...
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Corporate Law : IRDAI approved implementation of Ind AS for all insurers from 1 April 2026 with transitional arrangements and limited forbearance....
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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...
1) The Loss Costs for Fire line of business published by IIBI in the 2nd Schedule of Loss Costs for various occupancies is to be considered in determining the premium rates. 2) In the alternative, the Loss Cost of a particular occupancy based on the Insurer`s own past acceptances may be considered, for all available periods.
It has come to the notice of the Authority that few insurers are interpreting the captioned circular in a manner which would delay the release of fund value under discontinued unit linked products even when the policyholders have opted for complete withdrawal within the lock-in period or when no option is exercised.
In exercise of the powers conferred by Sections 42D, 42E, 64UM and 11 4A of the Insurance Act, 1938 read with 14 and 26 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority, in consultation with the Insurance Advisory Committee, hereby makes the following amendments to Insurance Regulatory and Development Authority of India (Insurance Surveyors and Loss Assessors) Regulations, 2015, namely:
The Authority, to enforce IRDAI (Investment) Regulations, had issued various Circulars and Guidelines at different times. This Master Circular covers all Circulars, Guidelines which are effective to date, to serve as one stand point reference. While due care had been taken to prepare this Master Circular, users may point out inconsistencies, through Life Insurance Council or General Insurance Council, which will be addressed in subsequent versions
Offering Existing Health Insurance Products that are in Compliance with IRDAI (Insurance Services by Common Service Centers) Regulations, 2015 as CSC Insurance Products, for distribution through Common Service Centers JCSC)
General insurance products that are classified as both Retail and Commercial need to be distinguished from one another with a suitable name change or pre fix or suffix as the case may be and need to have a separate Unique Identification Number (UIN). All the insurers, therefore, shall resubmit the list of existing products being sold both as Retail and Commercial on or before 1St October, 2017. The required UIN for the product will be allotted by the Authority through BAP.
An insurer registered to carry on insurance business in India shall, subject to sub-regulation (B) and sub-regulation (F) appoint an actuary, who shall be known as the ‘Appointed Actuary’ for the purposes of the Act.
(i) These Regulations may be called IRDAI (Outsourcing of Activities by Indian Insurers) Regulations, 2017. (ii) They shall come into force from the date of their publication in the Official Gazette of the Government of India
As you are aware the Authority has issued amendments to the Point of Salesperson (POS) guidelines on 16.03.2017. wherein an insurer or insurance intermediary proposing to engage the POS person shall ensure that the applicant is not engaged as POS with any other insurer or insurance intermediary by cross checking with the database housed in IIB.
(a) These Regulations may be called the Insurance Regulatory and Development Authority of India (Insurance Web Aggregators) Regulations, 2017
