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...
General and health insurers are not allowed to modify the existing benefits, add new benefits in the existing products which leads to imposing an increase in premium. However, it is clarified insurers are permitted to effect minor modifications as stipulated at Clause (G) of Chapter – III of consolidated guideline on product filing in health insurance business (Ref: IRDAI/HLT/REG/CIR/194/07/2020 dated 22.7.2020). Addition of new benefits / up-gradation of existing benefits may be offered as add-on covers or optional covers with a standalone premium rate to ensure an informed choice to the policyholders.
Insurance (Amendment) Bill, 2021, amending the Insurance Act, 1938, seeks, inter alia, to provide for- (i) substitution of sub-clause (b) in the definition of Indian insurance company in clause (7A) of section 2 of the Insurance Act, 1938, so as to raise the limit of foreign investment in an Indian insurance company from the existing 49 per cent. to 74 per cent. and to allow foreign ownership and control with safeguards;
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No: IRDAI/Life/MISC/Cir/046 /03/2021 Date:11-03-2021 To All the Insurers Re: Obligations of Insurers in respect of Rural and Social sectors- Clarification with regard to ASHA workers and MGNREGA workers The Authority has received requests for clarification as to whether the policies issued to persons under the occupations of […]
OMBUDSMAN: An Ombudsman is an officer ,appointed by the Government , who investigate complaints ,lodged by citizen against Government, Universities, Colleges , Municipalities, Companies, Financial Institutions etc., and attempt to resolve the complaint with mediation or marking recommendations. “Ombudsman” is taken from a Swedish word it means “ Legal Representative”, appointed to investigate the cases […]
It is found that the engagement with and payments for ‘display of advertisement material’ made by the insurer to TVS, A M Motors, Indus, ERAM and Nippon during the period from 2nd November, 2017 to 31st December, 2019 are in contravention of para 15 (5) (d) of the MISP Guidelines. The violation has continued for […]
Guidelines have been issued by Ministry of Health and Family Welfare MoH&FW ) for vaccination of eligible citizens. Vaccination is provided free of cost at Government Health Facilities. Vaccination is also available in designated Private Health Facilities, at a rate as specified by the Government of India.
1. (1) These rules may be called the Insurance Ombudsman (Amendment) Rules, 2021. (2) They shall come into force from the date of their publication in the Official Gazette.
In order to monitor the performance of Rural Insurance Business and support the development of policy and regulation for promoting rural insurance business, it is necessary to analyses data pertaining to Rural Insurance. It has therefore been decided to collect data as follows:
While the policy document is forwarded with relevant information, in order to continue the relationship with policyholders and to ensure information flow, it is considered. important to periodically notify the policyholders. pertain relevant and key details relating to health insurance coverage available to the policyholders.
The insurance market is having a wide variety of personal accident insurance products. Each product has unique features and the insuring public may find it a challenge to choose an appropriate product. Therefore, with the objective of having a standard product with common coverage and policy wordings across the industry, the Authority has decided to mandate all general and health insurers to offer the standard personal accident insurance product.
