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...
Read IRDAI’s guidelines urging General Insurance Companies to expedite claims for July 2021 floods in Maharashtra. Steps, contacts, and awareness highlighted for efficient claim settlement.
As a result of recent flood there are reports of loss of human lives and loss of belongings in the state of Maharashtra. 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.
Bank is having Corp Mediclaim Product group health insurance tie up with the New India Assurance Company limited to fulfill the health insurance requirements of bank account holders. The CA requested the New India insurance company (NIACL) about rectification of wrong group size.
Applicant was show caused by the Authority seeking their explanation as to why their application, seeking registration as a direct Broker, shall not be rejected. It was mentioned in the SCN that their reply should reach the Authority within 21 days.
IRDAI hereby withdraws the Guidelines on Indian owned and controlled dated October 19, 2015 with immediate effect as definitions of Control, Indian Control of an Indian Insurance Company and Indian Ownership provided under Indian Insurance Companies (Foreign Investment) Rules, 2015 have been omitted
Standards and Benchmarks for the Hospitals in the provider Network- taking into consideration the prevailing COVID-19 pandemic, the timelines for complying with the standards and benchmarks stands extended for a further period of one year for all the existing network providers as on the date.
IRDAI notifies Insurance Regulatory and Development Authority of India (Indian Insurance Companies) (Amendment) Regulations, 2021 vide Notification No. F. No. IRDAI/ Reg/6/178 /2021 Dated 7th July, 2021. INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 7th July, 2021 Insurance Regulatory and Development Authority of India (Indian Insurance Companies) (Amendment) Regulations, 2021 F. No. […]
The Broker who is operating since 2003 is well aware that the Business Interruption (BI) policy in India covers losses under this policy only if the claim under Material Damage section is admissible. The Brochure clearly advices Salasar’s clients, in the interim, to lodge the claim and also states that insurer prima facie may deny the claim which can be contested later.
Mitigate compliance risk in the insurance sector to protect your company’s reputation. Learn about the consequences of non-compliance and regulatory interventions.
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 […]
