File and Use procedure for Insurance schemes sponsored by Governments
All the insurers are required to comply with the File and Use procedure for each product that is being offered in the market.
Committee on electronic issuance of insurance policies
Reference is invited to Clause No.12 of the Guidelines on "Outsourcing of Activities by Insurance Companies" issued vide Ref:IRDA/LIFE/CI R/GLD/013/02/2011 dated 15t February,2011, wherein it is stated that the guidelines…
Guidelines on Outsourcing of Activities by Insurance Companies
INTRODUCTIONInsurers in India are increasingly using outsourcing, as a means of both reducing cost and accessing expertise, not available internally and achieving strategic aims. 'Outsourcing' may be defined as “Insurer’s…
Valuation of Premium Receivable from Central / State Government for Computation of Solvency Position
Various general insurance companies are running health insurance schemes which are sponsored/subsidized by Central/State Government. However, the premium of such schemes are not paid upfront but paid at a later…
Edelweiss Tokio Life Insurance gets initial approval from IRDA
January 11, 2010, Mumbai: Edelweiss Tokio Life Insurance Company Limited, a joint venture between the Edelweiss Capital Limited (Edelweiss), one of India’s leading financial services conglomerates, and Tokio Marine, one…
Policy Guidelines for Sharing of Information
IRDA Circular: The Authority is on periodic basis receiving requests from various Authorities both within India and outside the country for specific information regarding regulated entities in the insurance sector.…
Recognition of Surplus arising In non-participating funds as profit / loss in the Profit & Loss Account
IRDA Circular: Authority has observed that there is no uniform approach followed by the insurers for transfer of the surplus to the Profit & Loss Account. A few of the…
Clarification on Guidelines on Group Insurance Policies
IRDA Circular: Reference is invited to Clause C (4) of IRDA’s Guidelines on Group Insurance Policies issued vide circular 015/IRDA/Life/Circular/GI Guidelines/2005 dated 14th July, 2005 wherein insurers are prohibited to…
General Insurance products Compliance with File & Use terms and conditions
IRDA Circular: Insurers file with Authority new insurance products and modifications to existing insurance products as required by the File & Use circular no:IRDA/Cir/010/2003 dated 27th March 2006 and subsequent…