February 2021

1. This has reference to guidelines issued by the Authority on Point of Sales Person (POS) vide its Circular Nos. IRDA/Int/GDL/ORD/183/10/2015  dt. 26.10.2016, IRDA/LIFE/GDL/GLD/222/11/2016 dt. 07.11.2016 No. IRDAI/INT/CIR/PSP/130/06/2017  dt. 05.06.2017…

1. Attention is drawn to the Circular ref: “Reference rates for COVID-19 treatment” dated 20th June 2020 issued by General Insurance Council (GIC). 2. In case of “Cashless Claims” under…

1. Health Insurance in India has grown significantly in recent years and is expected to continue in the coming years. Insurance Industry is offering various products/services to cater to the…

1. The process of bringing the Fire and Allied Perils Insurance business out of the ambit of the All India Fire Tariff, 2001 which began in 2006-07 and 2007-08 with…

1. Applicability: This notification shall be applicable to Indian Re-insurers and other applicable insurers as per the provisions of Section 101A of the Insurance Act, 1938. 2. Percentage of Cession:…

Insurance products, be it life, health or motor-related can be somewhat difficult to understand in terms of coverage, exclusions and other aspects such as sub-limits, co-payments and no claim bonus.…

The finance ministry recently issued a draft Insurance Ombudsman (Amendment) Rules, 2020, to amend the 2017 Insurance Ombudsman Rules. Under the new rules, the Council for Insurance Ombudsman will take…

The Central Consumer Protection Authority (CCPA) has written to the Reserve Bank of India (RBI) and the insurance regulator, IRDA to look into complaints of failed transactions but money not…

Milind Kharat, Insurance Ombudsman, Mumbai & Goa, has directed Bajaj Allianz General Insurance, to pay one of its customers the entire hospitalization expenses, barring non-medical items, incurred for Covid-19 treatment.…

Finance minister Nirmala Sitharaman  increased the foreign direct investment (FDI) limit in the insurance sector from the existing 49% to 74%. "I propose to amend the Insurance Act, 1938 to…