Month: April 2024

In a significant move, IRDAI has given insurers more freedom to offer commission to intermediaries. Insurers can now have a board-approved policy to determine the commission they pay to intermediaries…

NarsinghIspat Ltd. v. Oriental Insurance Company Ltd. and Ors. Civil Appeal No. 10671 of 2016 Policy type- Standard Fire and Special Perils Policy The insured had taken a Standard Fire…

Haris Marine Products v. Export Credit Guarantee Corporation (ECGC) Limited Civil Appeal No. 4139/2020 Policy type- Single Buyer Exposure Policy The Supreme Court delved into the term business common sense…

Shivram Chandra Jagarnath Cold Storage and Ors. vs. New India Assurance Company Limited and Ors. I(2022) CPJ138 (SC) Policy type- Deterioration of Stock Policy In this case, the insurance claim…

United India Insurance Co. Ltd. v. Levis Strauss (India) Pvt. Ltd. Civil Appeal No. 2955 of 2022 Policy type- Standard Fire & Special Perils Policy, Stock Throughout Policy, All Risks…

As business operations seek to attain pre-pandemic levels of growth, insurance is one sector which could prove to be the pivot to sustainability. Recent judicial interpretation rendered by Supreme Court…

The insurance industry in India has witnessed significant growth in recent years, driven by increasing awareness and the growing need for financial protection. Further IRDAI has taken a new drive…

IRDAI has directed general and standalone health insurers to offer specific health cover for persons with disabilities (PWD) as well as those with HIV/AIDS and mental illness. IRDAI has advised…

10th January, 2023 This circular is issued in exercise of the powers conferred under Regulation 12 of IRDAI (Appointed Actuary) Regulations, 2022 and under Section 14(2)(e) of IRDAI Act, 1999.…

Background: The Indian Insurance Industry is poised for growth and the Authority has been taking various steps to reduce the protection gap and develop the Insurance industry. These steps are…