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...
Insurance Regulatory and Development Authority of India (IRDAI) signs Memorandum of Understanding (MoU) with International Financial Services Centres Authority (IFSCA) for cooperation and coordination with respect to exchange and sharing of information, knowledge for effective supervision.
IRDA extend the facilitation dispensing with physical signature on proposal forms of Life Insurance Policies and permitting OTP based validation, up to 30/09/2022. All other provisions, in respect of this dispensation, of the above referred circulars remain unchanged. Insurance Regulatory and Development Authority of India Ref: IRDAI/Life/Cir/Misc/059/03/2022 Date: 31st March, 2022 To All Life Insurers […]
IRDAI decided to further extend the dispensation allowed for General Insurance proposal in physical form and wet signature on the proposal form upto the period of 30/09/2022. Insurance Regulatory And Development Authority of India Ref: IRDAI/NL/CIR/MISC/060/03/2022 Date: 31st March, 2022 To All General Insurers Sub: (a) Issuance of Electronic Policies and (b) Dispensing with physical […]
IRDAI extends the facilitation of dispensing with physical signatures and wet signature on General & Health Insurance proposal forms in respect of health insurance policies for a further period of SIX (6) months i.e up to the period 30.9.2022. INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Circular Extension of timelines for Dispensing with Physical documents and […]
Corona Kavach Policies offered as per Guidelines on Covid Standard Indemnity based Health Policy and Corona Rakshak Policies offered as per Guidelines on Covid Standard benefit based Health Policy are permitted to be offered and renewed by all insurers up to 30.09.2022.
Reference is drawn to the provisions of IRDAI (Health Insurance) Regulations, 2016 in accordance to which every insurer shall evolve a health insurance underwriting policy covering approach and aspects relating to offering health insurance coverage not only to standard lives but also to substandard lives. Attention is also drawn to provision of The Transgender Persons (Protection of Rights) Act, 2019.
A draft notification to prescribe base premium for Motor Third Party Insurance Premium for the Financial Year 2022-23 has been prepared and attached as Annexure B, along with Basic methodology used for arriving at the Premium Rates for Motor Third Party Insurance Cover for the Financial Year 2022-23 (Annexure -A to this letter), for inviting objections and suggestions from all persons likely to be affected thereby, before the expiry of 10 days from the date the same is placed on the MoRTH Et IRDAI website and made available to the public.
Central Government hereby notifies that the form, manner, period and details prescribed in respect of declaration to be made and particulars to be included in the register to be maintained under the Companies Act shall apply to the Life Insurance Corporation under section 5C of the Life Insurance Corporation Act, 1956
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.
