Motor Accident Claim
A compensation of more than Rs. 24 lakh has been awarded to a motorcyclist who surrendered 75 % disability in his left leg after being hit by a vehicle on…
CMDs/ CEOs – LIFE INSURERS, GENERAL INSURERS, HEALTH INSURERS AND REINSURERS
Ref: IRDA/IT/CIR/MISC/232/10/2017 …
Customer’s consent mandatory for Aadhaar based e-KYC
IRDAI mentions in a circular that the use of Aadhar and accessing of personal information of Unique Identity Authority of India (UIDAI) for e-Know Your Customer (e-KYC) purposes can only…
Publishing of Death Claims data / Death Claims paid ratios in “Insurance Advertisements”
It has been observed that insurers are following different methods to arrive at Death Claims paid data (i.e. Death Claims paid ratios), while publishing them in “Insurance Advertisements” [as defined…
Time limit for filing Returns under Regulation 21 of IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015
Ref. No:IRDA/SUR/CIR/MISC/222/09/2017 Attention is drawn to the provisions of IRDAI (IIISLA) Regulations, 2015 wherein insurers are required to submit the Annual policy and Quarterly/Half-yearly returns. In this regard, insurers are…
Life Insurers asked to maintain transparency in publishing death claims paid
IRDA directed the Life Insurers, via a circular to follow transparency in projecting death claim settlement in advertisements. The circular mentions, “It has been observed that insurers are following different…
IRDAI grants licence to new General Insurers
IRDAI has granted new license to 2 new General Insurers Acko General Insurance and Go Digit General Insurance. Earlier in the month of may IRDAI had granted licence to DHFL…
To all General Insurers
Time limit for filing Returns under Regulation 21 of IRDAI (Insurance Surveyors and Loss Assessors) Regulations, 2015 Attention is drawn to the provisions of IRDAI (IIISLA) Regulations, 2015 wherein insurers…
Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies
To All the Life Insurers, Re: Modification to Guidelines on Point of Sales (POS) – Life Insurance Products Reference is invited to - Section 2 (i) – ‘Categories of…
IRDAI may introduce risk-based capital norms for insurers
An expert panel as appointed by the IRDA has recommended moving to the Risk Based Capital (RBC) Method to fix the solvency ratio of insurers as the present system “is…