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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...
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Corporate Law : Explore IRDAI's comprehensive reforms in the general insurance business post de-tariffication, focusing on customer-centric measur...
These rules may be called the Life Insurance Corporation of India General (Amendment) Rules, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
It is clarified that where the ‘applicant’ as defined under Regulation 2(b) of the IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) Regulations, 2015 falls within a group, no other entity of that group shall be eligible to apply for Certificate of Registration to act as Foreign Reinsurance Branch in India.
Taking into consideration the dynamics of the insurance industry, the IRDAI (Health Insurance) Regulations, 2016 are comprehensively reviewed in order to examine the scope for allowing operational freedom to both insurers and TPAs while protecting the interests of policyholders. The extant regulations are also reviewed from the perspective of allowing further facilitations to the Insurers and the TPAs.
As per Regulations 11(1)(f) of IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015, one of the functions of the Committee is to discharge any other function entrusted by the Authority from time to time. Accordingly, the committee is entrusted to review AOA of IIISLA. The detailed terms of reference are as follows:
IRDAI (Surety Insurance Contracts) Guidelines, 2022 shall be applicable to all Insurers registered under the Insurance Act, 1938, to transact the business of general insurance and Surety Insurance, subject to compliance with eligibility criteria as set out in these guidelines.
Clarification on meaning of the term ‘Capital Employed’ mentioned under the Item, Retention (Each and Every Claim), of the Policy form under Section III of the abovementioned Guidelines. The Authority hereby issues clarification that the term ‘Capital Employed’ refers to the Paid up capital of the entity.
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, 2022 to 31st March, 2023, 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.
Insurance Regulatory and Development Authority of India had set up a working group to make recommendations on Loss Prevention and Minimisation in the general insurance industry
IRDAI proposed amendment to IRDAI (Obligations of an Insurer in respect of Motor Third Party Insurance Business) Regulations, 2015 vide DRAFT IRDAI (Obligations of an Insurer in respect of Motor Third Party Insurance Business) Regulations, 2022. ***** Insurance Regulatory and Development Authority of India Ref. No: NON-LIFE Date: 05-01-2022 DRAFT IRDAI (Obligations of an Insurer […]
The Guidelines cover the remuneration of Non-Executive Directors, CEOs /WTDs /MDs of private sector insurers including the format in which remuneration details are required to be submitted to the Authority.
