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 regulator IRDA has imposed a fine of Rs 10 lakh on Anil Ambani Group company Reliance Life Insurance Company for violating the norms. The company was directed to pay a penalty of Rs 10 lakh and was asked to adhere strictly to the guidelines
CIRCULAR NO. IRDA/LIFE/CIR/REF/179/11/2010, DATED 11-11-2010 Please refer IRDA (Sharing of Database for Distribution of Insurance Products) Regulations, 2010 (hereinafter referred as “Regulations”) notified by IRDA on 1st July, 2010. The process of seeking grant of approval of Referral Company is stipulated in Regulation 3 of Chapter II of the Regulations. In order to streamline the […]
All Insurers are increasingly using outsourcing, as a means of both reducing cost and accessing specialist expertise, not available internally and achieving strategic aims. ‘Outsourcing’ may be defined as Insurer’s use of a third party (either an af
CIRCULAR NO. IRDA/ACTL/ULIP/124(2)/10/2010, DATED 27-10-2010 This has reference to the following circulars & regulation issued by the Authority: 1. IRDA/ACT/CIR/ULIP/102/06/2010, dated June 28, 2010 2. IRDA/Actl/Cir/ULIP/124/08/2010, dated 4th August, 2010 3. IRDA (Treatment of discontinued Linked Insurance Policies) Regulations, 2010. In the life insurance industry, group linked products could be broadly categorised into two, viz., fund-based […]
CIRCULAR NO. IRDA/F&I/CIR/CMP/174/11/2010, DATED 4-11-2010 It has been noticed by the Authority that the quantum of the amount lying unclaimed by the policyholders/insureds is accumulating on year on year basis. The unclaimed amounts of the policyholders/insureds may be on the following account : a. claims settled but not paid to the policyholders/insureds due to any […]
Circular No. IRDA/ACT/CIR/VIP/171/10/2010, dated 21-10-2010 Enclosed are the draft guidelines on Variable Insurance Products. Insurers are requested to send their comments on these guidelines on or before October 31,2010 so that the Authority can issue final guidelines on or before November, 4, 2010. A separate circular is being sent to all insurers where current Universal […]
Expenses of Management (EOM) under section 40C of the Insurance Act, 1938 read with Rule 17E of the Insurance Rules 1939 Circular No. IRDA/F&I/CIR/EMT/169/10/2010, dated 22-10-2010 A detailed review of the various elements of the ‘Expenses of Management’ (EOM) reckoned by non-life insurers for compliance with section 40C of the Insurance Act, 1938 read with […]
Insurance regulator IRDA is not in favour of allowing initial public offers (IPOs) by life insurers who have been in business for less than ten years, a condition holding up the IPO guidelines for the sector. The companies who have been operational f
Life insurance policy holders may not be required to keep paper records of their policies once the plan for digitalisation of the sector that is being worked on by the Life Insurance Council is approved by the regulator IRDA.
The Insurance Regulatory and Development Authority (Irda) has suspended sale of universal life policies, which were being promoted as an alternative to unit-linked insurance plans, from October 23. Sales have been suspended until the final guideline
