FAQs on Life Insurance
1.How do I know if the agent is authorized to sell life insurance policy? A life insurance agent is a representative of a particular life insurance company and can provide…
Suspension of Certificate of Registration of E-Meditek Insurance TPA Limited
Pursuant to Inspection carried out under provisions of Regulation 24 of IRDAI (TPA-Health Services) Regulations 2016 without prior notice on E-Meditek Insurance TPA Limited (hereafter referred as E-Meditek TPA)' Background:…
The Prevention of Money-laundering (Maintenance of Records) Second and Seventh Amendment Rules, 2017
This is further to our Circular ref: IRDAI/SDD/MISC/CIR/248/11/2017 dated 8thNovember, 2017 with regard to the Prevention of Money-laundering (Maintenance of Records) (Second Amendment) Rules, 2017 and Circular ref:IRDAI/SDD/CIR/MISC/267/12/2017 dated 18th December, 2017…
SECURITIES APPELLATE TRIBUNAL RAPS IRDAI FOR AIDING AND ABETTING CORRUPTION
The Securities Appellate Tribunal (SAT) has asked the Insurance Regulatory and Development Authority of India (IRDAI) to pass a fresh order in a case involving alleged financial irregularities in awarding…
Directions of High Court of Delhi at New Delhi on Exclusions related to Genetic Disorders
In the matter of M/s United India Insurance Company Limited Vs Jai Parkash Tayal (RFA 610/2016 & CM Nos. 45832/2017) Hon’ble High Court of Delhi at New Delhi held that…
Closure/Dissolution of Corporate Surveyors
To, All Corporate Surveyors and Loss Assessors Re: Closure/Dissolution of Corporate Surveyors As per IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015(hereinafter referred as Surveyors Regulations) vide regulation 4(6)(2), directors/partners…
Amendment to guideline 34A of Guidelines of Insurance Repositories and electronic issuance of insurance policies dt. 29th May 2015
Reference is drawn to the revised Guidelines of Insurance Repositories and electronic issuance of insurance policies dt. 29th May 2015. As per guideline No.34 A – other services, the IRs…
Exemption under Section 40B of Insurance Act, 1938
Whereas, M/s Acko General Insurance Limited (M/s AGIL) was granted Registration by the Insurance Regulatory and Development Authority of India (the Authority) to conduct general insurance business in India vide…
Coming soon: New Broker Norms
T S Vijayan, Chaiman of IRDAI stated that New broker regulations will be out “any time” soon while speaking at the 14th Annual “Insurance Borkers’ Summit” held recently. Sanjay Kedia,…
Unclaimed policy amounts of more than 10 months to be transferred to SCWF
IRDA had asked insurers to transfer unclaimed amounts of policyholders for a period of more than 10 years to the Senior Citizens’ Welfare Fund (SCWF). The unclaimed amounts of more…