MOTOR SEGMENT: A GAME CHANGER FOR THE NON LIFE INSURANCE INDUSTRY
The core of the motor insurance business, which is accident risk, is clearly at risk. Motor Insurance 2.0, a joint report by The Boston Consulting Group and Morgan Stanley, written…
RISK BASED CAPITAL IN THE INDIAN INSURANCE INDUSTRY
Background Insurance Companies in India are to keep reserves to meet the future liabilities, these reserves are kept based on prudential regulatory norms. However, regulators also prescribe additional money that…
IRDA Issues Circular on POS Database Updates and Compliance
Circular Circular on POS Database Ref: IRDA/ Int/ POS/ GDL/ PSP/ 084/ 04/ 2017 Date:13-04-2017 1. As you are aware the Authority has issued amendments to the Point of Salesperson…
Inclusion of Farmer Producer Companies as Micro Insurance Agents
Inclusion of Farmer Producer Company (FPC) in the list of Micro Insurance Agent No. IRDA/LIFE/CIR/MIN/ 095 /04/2017 April 26, 2017 Reference is invited to Regulation 2 (f) of IRDAI (Micro…
Contact details of Surveyor Department at Delhi
All are requested to, hence forth, address surveyor applications for enrolment, licensing, renewal and other communications at below given: Deputy General Manager, Surveyor Department, IRDA Delhi Regional Office, Gate NO.…
Insurance Regulatory and Development Authority of India (Insurance Brokers) Regulations, 2017 (Exposure Draft)
Consequent upon promulgation of Insurance Laws (Amendment) Act, 2015, the existing Insurance Broker regulations would undergo a change. In addition to the developments in the market and the experience of…
Exposure Draft of Insurance Regulatory and Development Authority of India (Preparation of Financial Statements of Insurers) Regulations, 2017
1. Sections 10 and 11 of the Insurance Act, 1938 were amended vide the Insurance Laws (Amendment) Act, 2015. These amendments have necessitated changes to the IRDA (Preparation of Financial…
Circular Report of IRDAI Committee on Risk Based Capital (RBC) Approach and Market Consistent Valuation of Liability (MCVL) of Indian Insurance Industry
The Authority Constituted the Committee on Risk Based Capital Approach and Market Consistent Valuation of Liabilities, vide its order Ref No. IRDA/ACT/ORD/MISC/116/06/2016 dated 10/06/2016. The order authorized the committee to…
Exposure Draft on IRDAI (Protection of Policyholders’ Interests) Regulations, 2017
1. The basic framework for protection of policyholders' interests is contained in the IRDA (Protection of Policyholders' Interests) Regulations 2002 (PPHI Regulations in short). 2. There have been several changes…
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…