2021 – Insurance Times

Finance minister Nirmala Sitharaman  increased the foreign direct investment (FDI) limit in the insurance sector from the existing 49% to 74%. "I propose to amend the Insurance Act, 1938 to…

1. Preliminary Currently, the coverage for various risks against Fire and Allied perils is as per the Standard Fire and Special Perils (SFSP) policy provided for in the erstwhile All…

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…

Finance Minister Mrs. Nirmala Sitharaman announced hiking of FDI limit in insurance sector from 49% to 74%. She also announced some amendments in the taxation of ULIP policies and proposed…

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…

Tropical Cyclones/Hurricanesare location specific.In an article in June 2021 issue of Insurance Times, a new web application TROPCYC for Risk Assessment of Tropical Cyclonefor India specific was introduced. Looking at…

WHAT IS This Clinical Trial Requirement? It is obvious that- Commercial advantage to the firm that produces the first approved Vaccine/ Drug for a disease. There is thus dramatic increase…

Internet of Things With the traditional view, the general insurance industry is always viewed as an industry, which financially compensates individuals and organizations for losses incurred by them. However, the…