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.…
As you are aware, the recent cyclone Fani has caused immense loss to property in the state of Odisha and also in neighboring states. There has been loss to some…
Reference is invited to clause 4 of the Circular ref: IRDA/TPA/REG/CIR/059/03/2016 dated 28.03.2016 issued under the provisions of IRDAI (TPA – Health Services) Regulations, 2016. Annexure 30 of the within…
1. Clear and transparent communications play a vital role in servicing of insurance policies and in ensuring that the benefits of insurance policies flow to the beneficiaries in a timely…
The Insurance Regulatory and Development Authority of India (IRDAI) is entrusted with the regulation, promotion and orderly growth of insurance business in India. Maintaining an efficient, fair and stable insurance…
The Madras High Court has held that a writ petition is maintainable against any private body if it has a public duty imposed on it. Justice Pushpa Sathyanarayana allowed a…
(1) By virtue of powers vested in the Authority under Section 14 (2)(i) of the IRDA Act, 1999, the Authority has been notifying the premium rates applicable to Motor Third…