Circular on Travel Insurance Products and operational matters
All Insurance Policies issued towards domestic and overseas travel coverage shall comply with the following norms: 1. Premium shall not be received more than 90 days in advance to the…
Information and Cyber Security related Audits and Services for IRDAI
This has reference to the e-Tender published on www.eprocure.gov.in for Information and Cyber Security related Audits and Services for IRDAI (RFP No. IRDAI/IT/18-19/12) dated 9th Nov, 2018 and subsequent technical…
Extension of time/withdrawal of existing products
We refer to clause 2.4 of IRDAI/ACT/CIR/MISC/125/07/2019 Dt 26/7/2019 and clause 1 of IRDAI/LIFE/CIR/MISC/173/09/2019 Dt 26/09/2019 on the implementation of IRDAI (Non-Linked Insurance Products) Regulations, 2019 and IRDAI (Unit Linked…
Suggestions for a name to the “Standard Individual Health Product”
The Indian health insurance market has a number of individual health insurance products. Each product has its own benefit feature and corresponding terms and conditions. With the objective to facilitate…
Exemption of classes of claims under sub-section (10) of Section 64UM of the Insurance Act, 1938
Whereas, in relation to the classes of claims mentioned in the Schedule hereto annexed, the Authority is satisfied that it is customary to entrust the work of survey or loss…
Guidelines on Insurance Claims of victims of recent floods (August 2019) in parts of Kerala
1. As you are aware, the recent floods have caused immense loss to property in the state of Kerala. There is an urgent need for the insurance industry to take…
Working Group on Revisiting Guidelines on Trade Credit Insurance
1. The Authority had revised the Guidelines on Trade Credit Insurance on 10th March, 2016 vide Circular Ref: IRDAI/NL/CIR/CRE/044/03/2016, considering the changes in economy and the enhanced need for trade…
IRDAI Bars Insurers from Advertising ULIPs as Investment Products
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a directive that prohibits insurers from advertising unit-linked insurance policies (ULIPs) as investment products. This regulation is part of…
Cancellation of TPA Certificate of Registration No 12 On Surrender
i) Whereas, M/S. Medicare Insurance TPA Services (I) Pvt. Ltd. (hereinafter referred to as the ‘Medicare TPA’) having its registered office at Flat No. 10, Paul Mansions, 6B Bishop…
Allowing Aadhaar Card as one of the acceptable documents for KYC- under certain conditions
Reference is drawn to the following circulars of the Authority relating to Prevention of Money-laundering (Maintenance of Records) Second and Seventh Amendment Rules, 2017 : i) Circular ref: IRDAI/SDD/MISC/ClR/248/11/2017 dated…