Reference is invited to Clause No.12 of the Guidelines on "Outsourcing of Activities by Insurance Companies" issued vide Ref:IRDA/LIFE/CI R/GLD/013/02/2011 dated 15t February,2011, wherein it is stated that the guidelines…
INTRODUCTIONInsurers in India are increasingly using outsourcing, as a means of both reducing cost and accessing expertise, not available internally and achieving strategic aims. 'Outsourcing' may be defined as “Insurer’s…
IRDA CIRCULAR: Authority vide Circular No. IRDA/F&A/CIR/49/Mar-09 dated March 24, 2009 had relaxed the requirement of Section 64(1)(ii)(b) of the Act for computation of Reserve for Unexpired Risk for Health…
Various general insurance companies are running health insurance schemes which are sponsored/subsidized by Central/State Government. However, the premium of such schemes are not paid upfront but paid at a later…
Disclosures: Disclosure to the various stakeholders in the market is vital to the supervisory process in any jurisdiction. In an efficient marketplace disclosure is expected to achieve market discipline amongst…
With effect from 1st January, 2007, tariffs were withdrawn from the non-life insurance market. However, keeping in mind the mandatory nature of the third party business, the Authority decided to…
The Insurance Regulatory and Development Authority (IRDA) is planning to hire about 100 insurance professionals over the next three months to tackle its growing manpower needs. “The industry has been…