Subhash Chandra Khuntia is new IRDAI chairman
The wait for the post of IRDAI chairman’s post is finally over. After much suspense since two and half month, Subhash Chandra Khuntia, a 1981-batch IAS officer who was also a…
Panel of Actuaries
The Authority is in receipt of requests from the insurers for availing the services of Panel Actuary, in particular, for the purpose of valuation of Actuarial Liabilities of the insurer…
Compliance of Motor Third Party Obligations
To, All CEOs/CMDs of General Insurance Companies Re: Compliance of Motor Third Party Obligations. This has reference to IRDAI (Obligation of Insurer in respect of Motor Third Party Insurance Business)…
Ministry still searching for suitable candidate for IRDAI chairman’s post
At a time when the government has firmed up plans to launch a mega health insurance scheme, the top post of insurance regulator being vacant is quite surprising. Though many…
IRDAI stalls TPAs move to run PSU health schemes
IRDAI has rejected a proposal by TPA’s to manage healthcare plans for public sector companies without group insurance. This means that companies will need to buy group health insurance to…
IRDAI draft norms for priority to local reinsurers
IRDAI has come out with draft regulations that require reinsurance buyers to give priority to GIC Re and multinationals that have branches in India. Insurance brokers and their clients are…
Regulation 5 of IRDAI (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) (First Amendment) Regulations, 2016 dated 28.01.2016
Compliance of Order of Preference CIRCULAR To All CEOs/CMDs of all Insurance Companies / Reinsurance Companies / FRBs Ref: IRDAI/RI/CIR/061/04/2018 Re: Compliance of Order of Preference. This is to…
IRDAI asks Insurer’s to transfer sum to Senior Citizens’ Welfare Fund
IRDAI has asked all insurers to transfer the deposits of policyholders that have been laying unclaimed for over 10 years to the welfare fund. "All insurers having unclaimed amounts of…
IRDAI to reduce Motor vehicle 3rd-party premiums
Insurance Regulatory and Development Authority of India (IRDAI) has proposed lower rates for most vehicle categories in 2018-19. IRDAI revises premium rates every year after taking into account the number…
Exemption of reinsurance schemes, in respect of specified insurance schemes, from the purview of GST
It is informed that the proposal to exempt reinsurance schemes in respect of specified insurance schemes has been approved by the GST Council in its 25th meeting held on 18.01.2018…