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 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...
Corporate Law : IRDAI is moving towards adopting Ind AS to standardize financial reporting across insurers. The framework aims to improve transpar...
Corporate Law : Stakeholders sought deferment or phased implementation of Ind AS. IRDAI mandated adoption from April 2026 with limited forbearance...
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 notification addressed mandatory reinsurance cession for general insurance policies. It mandates 4% cession to GIC Re, ensurin...
Corporate Law : The issue was the need to address increasing cyber risks in the insurance sector. IRDAI introduced updated guidelines with enhance...
Corporate Law : The circular shifts SLAs from a renewal-based licensing system to a registration regime with annual fees. This ensures continuity ...
Corporate Law : IRDAI constituted a Joint Expert Group to tackle transition and implementation issues under Ind AS. The group will guide insurers ...
Corporate Law : The IRDAI issued a circular providing clarifications on the implementation of Indian Accounting Standards (Ind AS) by insurers eff...
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.
Insurance Regulatory and Development Authority of India Ref. No:– | Date:28-04-2022 Guidelines on Group Insurance Products under Health Insurance Business and other operational matters On comprehensively examining the extant framework governing the administration of group health insurance products, in order to protect the interests of the insuring public and the insured members of group schemes, it […]
IRDAI permits all Insurers to have exposure to Financial and Insurance activities (as per section K of NIC classification) up to 30% of Investment assets.
On comprehensively examining the extant framework governing the administration of group health insurance products, in order to protect the interests of the insuring public and the insured members of group schemes, it is proposed to issue suitable guidelines on Group Insurance Products under Health Insurance Business and other operational matters.
It has been decided to dispense with the requirement of submission of following 16 returns by Non-Life Insurers: 1. Data / statement from serial nos. 3 to 7 of Schedule IV of Guidelines on Product Filing procedure for General Insurance products (5 returns)
The requirement to submit quarterly ALM returns regarding Asset Liability Management and Stress Testing (for life insurers) is dispensed with, except for Domestic Systemically Important Insurers.
Insurance Regulatory and Development Authority of India Date: 26.04.2022 PRESS RELEASE Processing of registration applications of new insurers With the objective of ensuring Ease of doing business in the insurance sector, for both global and domestic investors, IRDAI has taken a major step in setting out a new mechanism for processing the requests and applications […]
