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 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...
it is concluded that the TPA did not fulfill the Minimum Business Requirements during 2019-20 in any of the parameters as specified under regulation 14 of TPA Regulations, 2016 read with the Minimum Business norms as stipulated under Annexure-11 of Circular Ref: IRDAI/TPA/REG/CIR/130/06/2020 dated 03rdJune 2020. It is also observed that on an average basis […]
In the light of the violations of Regulation 19(9) of TPA Regulations, the Authority after careful consideration of the seriousness of violations observed and in exercise of the powers vested under Regulation 16(1) of IRDAI (TPA-Health Services) Regulations, 2016, hereby revokes the certificate of registration No. 029 granted to Grand TPA with immediate effect.
IRDAI has Imposed Penalty of Rs. 8 Lakh on Interocean Insurance Suveyors And Loss Assessors Pvt. Ltd. For Acceptance of survey works in areas for which the Surveyor does not hold a license. It also cautioned it for Delay in submission of survey reports and issued advisory for Failure to intimate the opening of branches. […]
Q.1 What are the Insurance Companies that offer Health Insurance in India? Ans: Health Insurance policies are offered by all Life, General and Health Insurance companies that are registered with IRDAI. The names of the Insurance companies that are registered with IRDAI are available in IRDAI website www.irdai.govl.in. Standalone Health Insurance Companies also offer Personal […]
Ministry of Finance Finance Minister Smt Nirmala Sitharaman meets heads of insurance companies for faster claim settlement FM emphasizes for streamlining process and documentation requirements under the schemes for enabling speedy claims disbursement Under PMJJBY1.2 lakh claims ofRs. 2,403 crore paid with disposal rate of 99% since 1st April 2020 till date Posted On: 05 […]
1. Guidelines on Standard Domestic Travel Insurance Product. Circular No. IRDAI/HLT/REG/CIR/119/05/2021 dated 5th May,2021. The IRDAI through Circular No. IRDAI/HLT/REG/CIR/119/05/2021 dated 5th May,2021 issued “Guidelines on Standard Domestic Travel Insurance Product.” The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines on Bharat Yatra Suraksha, the standard domestic travel insurance product, that will […]
As you are aware, cyclone Tauktae and cyclone Yaas have caused loss to property in some parts of the country. The General Insurers may have issued policies for protection of lives and property located in the affected areas. There is an urgent need for the insurance industry to take immediate steps to mitigate the hardships of the affected insured population by ensuring immediate registration and settlement of eligible claims.
The broker should note that submission of necessary documents during Authority inspection, is the duty of the entity, to make the inspection effective. Further non submission of documents within the specified timeline may be construed as a deliberate attempt to restrict Authority’s inspection team from examining the functioning of the Broker. The Broker is cautioned for the lapse and advised that any recurrence of similar lapse will be viewed seriously in future.
As a result of Cyclones Tauktae,Yaas there are reports of loss of human lives and loss of belongings in the affected Districts of primarily in the states of Maharashtra, Gujarat, Odisha and West Bengal. In order to extend every possible facilitation in quick and timely settlement of life insurance claims, you are advised to take the following actions immediately in all the states affected by the said cyclones:
The insurance intermediaries engaged in solicitation and distribution of insurance products, viz., Insurance Brokers, Corporate Agents, Insurance Web Aggregators, Insurance Marketing Firms are required to take Professional Indemnity Insurance Policies in order to get themselves indemnified from the claims lodged against them, arising out of the contingencies mentioned in the regulations governing them.
