Insurance News

1. Applicability: This notification shall be applicable to Indian Re-insurers and other applicable insurers as per the provisions of Section 101A of the Insurance Act, 1938. 2. Percentage of Cession:…

Insurance products, be it life, health or motor-related can be somewhat difficult to understand in terms of coverage, exclusions and other aspects such as sub-limits, co-payments and no claim bonus.…

The finance ministry recently issued a draft Insurance Ombudsman (Amendment) Rules, 2020, to amend the 2017 Insurance Ombudsman Rules. Under the new rules, the Council for Insurance Ombudsman will take…

The Central Consumer Protection Authority (CCPA) has written to the Reserve Bank of India (RBI) and the insurance regulator, IRDA to look into complaints of failed transactions but money not…

Milind Kharat, Insurance Ombudsman, Mumbai & Goa, has directed Bajaj Allianz General Insurance, to pay one of its customers the entire hospitalization expenses, barring non-medical items, incurred for Covid-19 treatment.…

1. Preliminary Currently, the coverage for Dwellings against Fire and Allied perils for Material Damage is as per the Standard Fire and Special Perils (SFSP) policy provided for in the…

1. This has reference to Notification of IRDAI (Insurance Surveyors and Loss Assessors) (Amendment) Regulations, 2020 whereby a. Vide Regulation 21(3) insurer are required to file with the Authority report…

1. The Authority has notified IRDAI (Minimum Information Required for Investigation and Inspection) Regulations 2020 in the official gazette on 23rd November 2020. These regulations will come into force after…

IRDAI vide its Ref. No: IRDA/IT/GDL/MISC/ 082/04/2017 dated 07-4-2017 had issued Information and Cyber Security Guidelines containing comprehensive cyber security framework for Insurance sector for the purpose of implementing appropriate…

1. This has reference to guidelines issued by the Authority on Point of Sales Person (POS) vide its Circular Nos. IRDA/Int/GDL/ORD/183/10/2015  dt. 26.10.2016, IRDA/LIFE/GDL/GLD/222/11/2016 dt. 07.11.2016 No. IRDAI/INT/CIR/PSP/130/06/2017  dt. 05.06.2017…