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...
M/s Go Digit General Insurance Limited to discontinue the product DIGIT Group Total Protect Policy allotted UIN GODPAGP22103V032122 which is not compliant with Section 3(1) of Insurance Act, 1938 with immediate effect.
Domestic Systemically Important Insurers (D-SIIs) refer to insurers of such size, market importance and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system. Therefore, the continued functioning of D-SIIs is critical for the uninterrupted availability of insurance services to the national economy.
It has been observed that the insurance intermediaries maintain multiple current accounts with banks at different operational levels, i.e., Branch offices, Corporate office, etc., for regulatory and other purposes.
The M/s. Angel Financial Advisors Pvt. Ltd. (CA) submission that the case under the observation is a one off case is not tenable as similar cases of solicitation by Angel Broking is covered under Charge No.1. The CA is cautioned for following sales practice of engaging the group company Angel Brokering. Considering this particular case […]
The Web Aggregator was not ensuring that the leads generated are concluded within three months of their generation and even then, the Web Aggregator has been paid remuneration from the concerned insurer. It was observed that there were 12,263 cases where the web aggregator received commission for sale of insurance product after three months from the date of lead generation. Same was verified from the lead management system of the WA.
We have discussed on various occasions the importance of an insurance cover and its benefit to keep us financial viable in case of occurrence of any insured peril. Insurance is a valuable method of transfer and reduction of risk. We generally transfer our risks to the insurance companies on the basis of payment of a […]
Reg.37(1) of the Regulations, which provides for ‘grant of single broking registration to one corporate group’. In terms of the above Regulations, one corporate group shall be given only one certificate of registration in the same category of broker. Therefore, multiple broking entities in the same group for carrying out similar kind of or same […]
REGULATORY UPDATES -A GIST OF IMPORTANT CIRCULARS/NOTIFICATIONS/GUIDELINES ISSUED BY THE AUTHORITY (IRDAI). Submitted, for information, the supervisory/ regulatory directions from IRDAI from 1st July 2021 to 31st October, 2021 . The Authority has issued certain Regulations/Guidelines/Circulars on issues as listed below: 1. Standards and Benchmarks for the Hospitals in the provider Network- (IRDAICircular No. IRDAI/HLT/REG/MISC/199/07/2021 […]
Discover the importance of health insurance in today’s world. Learn about the benefits of having a portable insurance policy that can protect you and your family.
Insurers maintain separate current accounts with banks at different operational levels, i.e., Branch offices, Controlling offices, Corporate office, etc., for the purpose of premium collection, management expenses, policy payments, investment operations, etc. Maintenance of current accounts at different operational levels for specific purposes helps the insurers in managing funds, reconciliation of transactions and servicing claims of policyholders efficiently.
