Rule of contra proferentem
Haris Marine Products vs. Export Credit Guarantee Corporation (ECGC) Ltd. Civil Appeal No. 4139/2020 The Supreme Court delved into the term business common sense to interpret terms of a credit…
2022 - Insurance Times
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November 2022
The Insurance Times Journal
SC rules consumer forum can’t order forensic test of surveyor’s report
Khatema Fibres Ltd. vs. New India Assurance Company Ltd. and Ors. IV(2021)CPJ1(SC) The Supreme Court on Tuesday ruled that a consumer forum is primarily concerned with an allegation of deficiency…
Exposure Draft of IRDAI (Re-insurance) (First Amendment) Regulations, 2022
In exercise of the powers conferred by Section 114A of the Insurance Act, 1938 read with section 14 and 26 of the Insurance Regulatory and Development Authority Act, 1999 (41…
Insurance cover for new-borns/infants under health insurance policies
Reference is invited to the Clause (1) of Chapter –II on ‘exclusions not allowed under health insurance policies’ issued vide Master circular on Standardisation in Health insurance Business dated 22.7.2022…
Providing cover for Mental Illness under Health Insurance policies
Attention is drawn to the Authority’s circular Ref. No.IRDAI/HLT/MISC/CIR/128/08/2018 dated 16th August, 2018 directing all Insurance companies to comply with the provisions of the Mental Health Care Act, 2017 (MHC…
Product Filing Procedure
This is further to the Circulars Ref: IRDAI/NL/CIR/MISC/107/06/2022 dated 01.06.2022 and Ref: IRDAI/NL/CIR/PRO/146/07/2022 dated 14.07.2022 issued by the Insurance Regulatory and Development Authority of India (the Authority) regarding Product Filing…
Standard Operating Procedure for Inter-operable Regulatory Sandbox (IoRS)
An Inter-Regulatory Technical Group on FinTech (IRTG on FinTech) had been constituted under the aegis of the Financial Stability and Development Council- Sub Committee (FSDC-SC). The terms of reference (ToR)…
Insurtech – Roadahead?
India being one of the world's fastest-growing economies, has emerged as one of the fastest-growing FinTech hotspots in recent years. Pandemic has given a huge boost to adoption of technology…
2022 - Insurance Times
From Editor in Chief Desk
Journal/Books
November 2022
The Insurance Times Journal
Editorial IT November 2022
IRDAI recently has directed insurance companies to provide cover for mental illness under health insurance policies before 31st October, 2022. This direction is based on mental health Act, 2017 wherein…
2022 - Insurance Times
General Insurance Plans
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November 2022
The Insurance Times Journal
Tata AIA ties up with Medix to offer specialised ‘Critical illness’ services
Tata AIA Life Insurance, has partnered with Medix, a global company specialising in medical management solutions, to provide TATA AIA customers with access to a local and global network of…