Mr. Pravin Kutumbe, Member (Finance & Investment)
Mr. Pravin Kutumbe assumed charge as Member (Finance & Investment) in Insurance Regulatory and Development Authority of India (IRDAI) on 12th March 2018. Prior to joining IRDAI, he was Executive…
Updated Rules for Insurance Repositories: Amendment to Guideline 34A Explained
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…
Avoid Compensation Hassles: Ensure Proper Vehicle Ownership Transfer After Sale
The Supreme Court has ruled that if the owner of the vehicle did not bother to change the ownership in registration records, he would be liable for compensation claims arising…
Delay No Excuse: Insurers Can’t Reject Claims Solely for Late Reporting
Insurers can't reject an insurance claim on grounds of delay alone. On 4 October, the Supreme Court ruled in favour of a truck owner whose truck was stolen in 2010.…
Early Death No Excuse: Insurance Companies Can’t Reject Claims Within 90 Days
The National Consumer Disputes Redressal Commission ( NCDRC) has ruled that an insurance company can't deny paying the insurance claim even if the policy holder dies within 90 days from…
Living wills not likely to affect insurance Claims
The recent Supreme Court ruling permitting a 'living will' that specifies that a person should be taken off life support if he or she slips into a vegetative state or…
Mr. Sujay Banarji, Member (Distribution)
Mr. Sujay Banarji assumed charge as Member (Distribution) in Insurance Regulatory and Development Authority of India on 1st March 2018. Mr. Sujay Banarji superannuated as General Manager and Director of…
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 of a corporate surveyor are required to submit material changes about the…
In Conversation with Sainesh Dar, CII South Asia
About Mr. Sainesh Dar Sainesh has more than two decades of a very diverse work experience which has seen him engaged with leading companies across the multidimensional service industries ranging…
Transfer of Unclaimed amount to Senior Citizens welfare Fund-Accounting Procedure
This has reference to the Authority’s master circular No. IRDA / F&A / CIR / MISC / 173 / 07 / 2017 dated 25.07.2017 wherein the insurers having unclaimed amounts…