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 issues a penalty of Rs. 37 lakhs to Prowess Insurance Brokers for regulatory violations. Read the full order details and imp...
Corporate Law : Explore IRDAI's final order on Aegon Life Insurance (now Bandhan Life) regarding violations of AML and policyholder protection reg...
Corporate Law : IRDAI introduces new insurance reforms focusing on policyholder empowerment, grievance redressal, and transparency in operations. ...
Corporate Law : Read about the latest reforms in the Indian life insurance sector by IRDAI, aimed at simplification, transparency, and informed de...
Corporate Law : Explore IRDAI's comprehensive reforms in the general insurance business post de-tariffication, focusing on customer-centric measur...
Insurance regulator IRDA on Tuesday said that all universal life products, a new kind of insurance which entered India recently and gives greater flexibility to customers, will not have any unit-linked component in them. IRDA also said that from now, all such products will be named variable insurance products (VIPs) and have a lock-in period […]
Speaking at the graduation ceremony of Executive Programme in Insurance and Risk Management (EPIRM), Mr Hari Narayan said, “if there is an enhancement of FDI, there perhaps will be greater activity in the IPO space. Some companies will start completi
The Insurance Regulatory and Development Authority (Irda) will soon issue guidelines for listing of insurance companies and portability of motor and health insurance policies between companies, Chairman Hari Narayan has said. On listing of non-life i
Section 40A of the Insurance Act, 1938 (‘the Act’) lays down the permissible limits for payment of commission or remuneration, in any form, in respect to any policy of life insurance issued in India by an insurer and effected through an insurance agent, in various lines/segments of life insurance business. The proviso to the said section permits life insurers, in the first ten years of business, to pay forty per cent of the first year’s premium payable on the policy, towards commission.
Insurance regulator IRDA today gave a clean chit to Life Insurance Corporation of India, the largest insurance company in India, in the case of alleged violation of rules pertaining to transfer of profits among its various schemes.
Insurance: Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) Guidelines CIRCULAR NO. IRDA/F&I/CIR/AML/180/11/2010, DATED 12-11-2010 The Authority has reviewed the AML/CFT guidelines to align certain stipulations with that of the 40+9 Recommendations of the Financial Action Task Force (FTAF). Accordingly, the following additional stipulations/clarifications are issued for compliance. Sl. No. Clause Ref. in Master Circular 2010 on AML/CFT […]
Insurance regulator IRDA has imposed a fine of Rs 10 lakh on Anil Ambani Group company Reliance Life Insurance Company for violating the norms. The company was directed to pay a penalty of Rs 10 lakh and was asked to adhere strictly to the guidelines
CIRCULAR NO. IRDA/LIFE/CIR/REF/179/11/2010, DATED 11-11-2010 Please refer IRDA (Sharing of Database for Distribution of Insurance Products) Regulations, 2010 (hereinafter referred as “Regulations”) notified by IRDA on 1st July, 2010. The process of seeking grant of approval of Referral Company is stipulated in Regulation 3 of Chapter II of the Regulations. In order to streamline the […]
All Insurers are increasingly using outsourcing, as a means of both reducing cost and accessing specialist expertise, not available internally and achieving strategic aims. ‘Outsourcing’ may be defined as Insurer’s use of a third party (either an af
CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, DATED 27-10-2010 This has reference to the following circulars & regulation issued by the Authority: 1. IRDA/ACT/CIR/ULIP/102/06/2010, dated June 28, 2010 2. IRDA/Actl/Cir/ULIP/124/08/2010, dated 4th August, 2010 3. IRDA (Treatment of discontinued Linked Insurance Policies) Regulations, 2010. In the life insurance industry, group linked products could be broadly categorised into two, viz., fund-based […]
