Law on insurer’s burden in a flux
The liability of an insurance company to compensate a road accident victim when the terms of the policy have been violated came in for examination again in the Bombay High…
iTerm too descriptive for internet insurance policies
The Bombay High Court in a noteworthy decision held that the mark iTerm used by the plaintiff, Aegon Life Insurance Company, was not inherently distinctive in relation to the insurance…
Preparation of Financial Statements by Life Insurers
In order to bring further uniformity, comparability and fair presentation of financial position in the Financial Statements filed by the insurers, the Authority, in exercise of the powers under Section…
Circular on Travel Insurance Products and operational matters
All Insurance Policies issued towards domestic and overseas travel coverage shall comply with the following norms: 1. Premium shall not be received more than 90 days in advance to the…
Information and Cyber Security related Audits and Services for IRDAI
This has reference to the e-Tender published on www.eprocure.gov.in for Information and Cyber Security related Audits and Services for IRDAI (RFP No. IRDAI/IT/18-19/12) dated 9th Nov, 2018 and subsequent technical…
In the absence of a comprehensive law, here’s how employee whistleblowers fare
Abhishek Mishra was driving from Udaipur to Gurgaon along with his parents in his father's new Maruti Ciaz, a car the senior Mishra had bought a month ago with his…
International insurance companies reduce premiums if you are a non-smoker or have quit smoking
Health insurance holders are likely to get more wellness and preventive features, including Outpatient Department (OPD) consultations or treatments, pharmaceuticals, health check-ups and diagnostics, and discount vouchers in gyms and…
Extension of time/withdrawal of existing products
We refer to clause 2.4 of IRDAI/ACT/CIR/MISC/125/07/2019 Dt 26/7/2019 and clause 1 of IRDAI/LIFE/CIR/MISC/173/09/2019 Dt 26/09/2019 on the implementation of IRDAI (Non-Linked Insurance Products) Regulations, 2019 and IRDAI (Unit Linked…
Suggestions for a name to the “Standard Individual Health Product”
The Indian health insurance market has a number of individual health insurance products. Each product has its own benefit feature and corresponding terms and conditions. With the objective to facilitate…
Exemption of classes of claims under sub-section (10) of Section 64UM of the Insurance Act, 1938
Whereas, in relation to the classes of claims mentioned in the Schedule hereto annexed, the Authority is satisfied that it is customary to entrust the work of survey or loss…