Regulations 27(4), 28(e) and 30(1) & (2) of IRDAI (Insurance Brokers) Regulations 2018 require written mandate from the clients to the insurance broker to represent them for the purposes mentioned…
A district consumer forum here has directed Reliance General Insurance to pay around Rs 18 lakh as reimbursement for a car stolen in 2015, while finding it guilty of "deficiency…
US insurance major MetLife, Inc is considering buying additional stake in PNB MetLife India Insurance Company from its Indian partners after its attempt to unlock value through a public offering…
Insurance companies will have to make provisions for their exposure to the crippled infra lender IL&FS, industry regulator Irdai said. The IL&FS group with a debt of over Rs 94,000…
IRDAI chairman Subhash Chandra Khuntia expressed concern over the practice among motor insurance service providers to offer commissions higher than the amount stipulated by the regulator. “Whenever it is coming…
Ref: IRDAI/RI/ORD/MISC/212/12/2018 Date: 31-12-2018 Re: Reconstitution of Reinsurance Advisory Committee As per provisions under Section 101B of the Insurance Act, 1938 the Authority hereby reconstitutes the Reinsurance Advisory Committee (RAC)…
IRDAI has recently notified draft product guidelines to review and standardise the 2013 regulations on linked and non-linked insurance products. The new draft proposals will make the exit route easier…
From January 1, policyholders will not have to purchase separate compulsory personal accident (CPA) cover for each new vehicle they buy, as per a notification issued by IRDAI. Currently, a…
IRDAI has not yet fixed a uniform price point for selling three-year, third-party insurance covers for vehicles used as cabs. This may result in hampering the taxi sale across India.…
Reference is invited to the provisions of Section 64 VB of Insurance Act,1938 and the circular ref: IRDA/Life/Misc/Cir/06/05/2015 dated 17th May 2015 on the issue of acknowledgements on collection of premiums.…