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 : Understanding the framework for export of goods and services in India, covering roles of DGFT, RBI, banks, and exporters under FEM...
Corporate Law : IRDAI approved in-principle drafting and publication of new and amended regulations following the Sabka Bima, Sabki Raksha (Amendm...
Corporate Law : IRDAI approved drafting regulations for implementing a Risk Based Capital framework to strengthen solvency assessment and align In...
Corporate Law : IRDAI formed a sub-committee to review private health insurance and improve policyholder experience. The initiative focuses on exp...
Corporate Law : The issue concerns identification of systemically important insurers. The regulator retained the same entities, emphasizing their ...
Corporate Law : IRDAI directs insurers to follow anti-dark pattern guidelines and submit compliance reports. The move strengthens consumer protect...
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 : The regulator held that agreements lacking clear fee provisions undermined contractual clarity and regulatory compliance. A penalt...
Corporate Law : IRDAI has directed insurers to disclose performance-linked remuneration details of Key Management Persons on their websites. The c...
Corporate Law : The case involved a broker implementing substantial shareholding changes without obtaining IRDAI's prior approval as required by r...
Corporate Law : The Authority found that core survey functions were carried out by unlicensed personnel. It held that such outsourcing violated re...
Corporate Law : The regulator cancelled a surveyor’s licence after finding false records, mismatched filings, and inaccurate disclosures. The ru...
The underwriting policy shall also cover the approach and aspects relating to offering health insurance coverage. It shall have in place various objective underwriting parameters to differentiate the various classes of risks being accepted in accordance with the respective risk categorization
Insurance Regulatory and Development Authority Ref No: IRDAI/HLT/CIR/MISC/58/2/2023 Dated:27.02.2023 To All General Insurers (except ECGC, AIC) and Stand-alone Health Insurers Re: Product for Persons with Disabilities (PWD), Persons afflicted with HIV/AIDS, and those with Mental Illness 1. Reference is drawn to the following sections of the Statutes mentioned below: a. Section 21(4) of the Mental […]
obligations of an Insurer in respect of Motor Third Party Insurance Business for every Financial Year are also specified in IRDAI (Obligation of Insurer in Respect of Motor Third Party Insurance Business) Regulations, 2015.
The CBRs, who meet the eligibility criteria as per the extant regulations, will qualify as ‘Eligible CBRs’. The CBRs, who do not meet the eligibility criteria, are regarded as ‘Non-Eligible CBR’;
At any point of time, investment in any single Mutual Fund shall not exceed 20% of the total investment in Mutual Funds (all taken together)
The percentage cession of the sum insured on each General Insurance Policy to be reinsured with the Indian Re-insurer(s) shall be 4% (four percent) in respect of insurance attaching during the financial year beginning from 1st April, 2023 to 31st March, 2024, except the terrorism premium and premium ceded to Nuclear pool wherein it would be made ‘NIL’. The entire Obligatory Cession is to be placed with General Insurance Corporation of India (GIC Re) only.
Insurers are hereby permitted to pay profit related commission to non-executive director(s) including the non-executive director(s) appointed under section 48A of the Insurance Act, 1938, under the deemed approval mechanism
It is clarified that dividend criteria as stipulated under Regulation 3(a)(4) and 3(a)(5) of IRDAI (Investment) Regulations, 2016 read with Clause 1.11 of IRDAI Investment Master Circular dated October 27, 2022 applicable to Demerged Company
Investment in Sovereign Green Bonds shall be treated as Investment in Infrastructure and shall be classified as Central Government Securities under Category Code CSGB
Provided the above cap is not applicable to mono-line surety insu rance companies registered for doing surety insurance business on a standalone basis. The surety insurance business of mono-line surety insurance companies shall be subject to such prudential norms as may be specified from time to time.
