Corporate Law : Explore the complexities faced by insurers and TPAs as data fiduciaries, navigating regulatory landscapes. Learn strategies and im...
Corporate Law : Explore the impact of Insurtech on India's insurance sector, regulatory challenges, and the potential of technology-driven innovat...
Corporate Law : Explore financial statements and accounting standards for insurance companies as per IRDAI regulations and Companies Act 2013. Lea...
Corporate Law : Learn about insurance claim delays faced by policyholders and their rights as per IRDAI Regulations. Understand the claims procedu...
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 : 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,...
Company Law : Vinay Jaidka Vs Chief Secretary (Delhi High Court) Abhishek Nanda, ld. Counsel who appears for the Insurance Regulatory and Develo...
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...
Income Tax : Having regard to the agreement entered into inter se between the hospital and the TPA for payment of money to the hospital, it can...
Income Tax : Srivatsan Surveyors Pvt. Ltd. ('Appellant') is engaged in the business of licensed surveyors and loss assessors under the Insuranc...
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...
Understanding IRDAI (Investment) (Fifth Amendment) Regulations, 2013 and their impact on insurance companies in India.
As per provisions under Section 101B of Insurance Act, 1938; IRDAI reconstitutes Reinsurance Advisory Committee (RAC) with the Chairman and Members
The main objective of service agreements with motor garages/workshops shall only be providing insurance services for claims of accident vehicles and it cannot arbitrarily expand to include scope of services which are not relevant for insurance claims.
IRDAI has received representations on the rationalization of compliance requirements of Foreign Reinsurance Branches (FRBs) as they are not directly dealing with the retail customers. Further, representations have also been received from the non-life industry to dispense with the Form NL 40 on disclosure of Underwriting performance on their respective websites.
It has been decided to discontinue the filing of monthly solvency returns by the Insurers with immediate effect. However, the insurers whose solvency margin is less than 1.55 as at the end of any quarter, shall continue to report the monthly solvency position until the solvency position is restored to 1.55, by e-mail at [email protected].
These standard products replaced the Standard Fire and Special Perils (SFSP) policy for the named risks and no product other than the standard products was permitted for Fire and allied risks. Needless to add, the pricing of the products shall be commensurate to the risks involved.
IRDAI has been receiving several complaints from policyholders, both directly and through various platforms such as industry associations, that insurers are referring to the Burning Cost as a ‘mandated minimum rate’.
Insurers are not required to submit hard copies of any reports, returns or other documents related to actuarial valuation or reinsurance to IRDAI Head Office. Instead, PDF and Excel copies of the documents are to be sent to the following email IDs:
1. Prakash Kumar, former Chief Executive Officer, GST Network, is appointed as Member of the Insurance Advisory Committee from the date of notification, and 2. Venkat Changavalli, Management Consultant is appointed as Member of the Insurance Advisory Committee from the date of notification
IRDAI has received suggestions to allow designing a Combi product for Micro-insurance, an idea that serves the need for a comprehensive one-stop solution for the target groups. This may require amendments to extant legal framework as well as IRDAI Regulations.
