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...
Insurance Regulatory and Development Authority of India IRDAI/NL/ORD/MISC/160/06/2020 Dated: 24th June 2020 Sub: Working Group for insurance of Remotely Piloted Aircraft System (RAPS)/ Drone Technology Drones are emerging as one of the fastest growing technologies and are being used for a variety of purposes. Their numbers are growing rapidly. Drones are playing a significant role […]
It is considered that short term health insurance policies providing coverages specific to COVID-19 disease is the need of the hour. Accordingly, all insurers (Life, General and Health Insurers) are allowed to offer COVID – 19 specific short term health insurance policies subject to these guidelines.
The Objective of these guidelines is to standardize the general terms and clauses incorporated in indemnity based Health Insurance [excluding Personal Accident (hereinafter called as PA) and Domestic / Overseas Travel] products by simplifying the wordings of general terms and clauses of the policy contracts and ensure uniformity across the industry.
Where as part of product design insurers propose proportionate deduction of the ‘associated medical expenses’ when a policyholder chooses a higher room category than the category that is eligible as per terms and conditions of the policy, insurers shall define ‘associate medical expenses’ in the terms and conditions of policy contract.
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA Ref. No: IRDAI/HLT/REG/CIR/149/06/2020 Date:11-06-2020 To All General and Health Insurers (except ECGC, AIC) Re: Guidelines on Telemedicine: 1. Medical Council of India has issued ‘Tele Medicine practice guidelines’ on 25th of March 2020, enabling registered Medical Practitioners to provide Healthcare using Tele Medicine. 2. In the above background, […]
IRDAI releases Guidelines on Public Disclosures by Insurers on the qualitative and quantitative parameters of the health services rendered to policyholders
As you are aware, cyclone Nisarga, has caused loss to property in parts of Maharashtra, Gujarat and Other Neighboring States. The General Insurers may have written policies that extend to lives and property located in the affected areas.
General insurers were advised to provide insureds the following two options to choose from: (i) Long Term Package cover offering both Motor Third Party Insurance and Own Damage insurance for three years or five years as the case may be, (ii) A bundled cover with a three-year or five-year term (as applicable) for the third party component and a one-year term for the Own Damage.
ssuance of long-term Motor Third Party Insurance policies for new cars and new two-wheelers (i) The Hon’ble Supreme Court of India, vide its order dated 20th July, 2018, in WP No.295/2012 of S. Rajaseekaran vs Union of India and Ors, directed that
As a result of Cyclone ‘Nisarga’, there are reports of loss of human lives and loss of belongings in the affected Districts of primarily the states of Maharashtra and Gujarat. 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 in all the states affected by the cyclone:
