In a move to empower policyholders and bolster inclusive health insurance, the Insurance Regulatory and Development Authority of India (IRDAI) has announced major revamp of regulatory norms. The regulator has…
The Insurance Regulatory and Development Authority of India (IRDAI) issued a master circular on health insurance on May 29, 2024, listing 20 provisions. These norms, if properly implemented, will make…
Background: The issuance of IRDAI (Insurance Product) Regulations, 2024 and the de-notification of erstwhile tariffs, general terms and conditions; policy and endorsement wordings provide a unique opportunity to develop simplified…
Introduction The Master Circular on General Insurance Business, issued by the Insurance Regulatory and Development Authority of India (IRDAI), aims to consolidate various guidelines and regulations related to general insurance…
Introduction The Master Circular on Life Insurance Products, issued on June 12, 2024, by the Insurance Regulatory and Development Authority of India (IRDAI), consolidates various guidelines and regulations to streamline…
Introduction The Master Circular on Operations and Allied Matters of Insurers, issued by the Insurance Regulatory and Development Authority of India (IRDAI) on June 19, 2024, aims to consolidate various…
The Authority, vide order No. IRDA/F&A/ORD/MISC/151/09/2018 dated 18th September, 2018, had constituted a committee on Regulatory Sandbox in insurance space in India under the Chairmanship of Mr. Randip Singh Jagpal,…
1. It is observed that some Insurers are offering ‘Automatic Extension of Period Clause’ as an add-on to annual policies such as Standard Fire Special Perils, Industrial All Risks, Office…
The Authority, in order to address conflicts of interest arising out of the appointment of common directors between insurance companies, insurance company and insurance intermediaries and common promoters of Health…
Attention is drawn to Authority’s Circular No. IRDAI/CAD/CIR/MISC/063/03/2016 dated 01-04-2016 vide which all Insurers were directed to submit data pertaining to compliance of awards passed against them by Insurance Ombudsman.…