Editorial Insurance Times November 2017
GIC Re successfully completed its maiden IPO which was subscribed to the extent of 1.90 times. This will increase the visibility of the company among the masses. Newindia Assurance has…
IRDAI Clarifies Guidelines on e-Insurance Accounts, e-KYC, and OTP-Based Verification
Clarifications on Guidelines on insurance e-commerce and electronic issuance of insurance policies The Authority as part of its developmental mandate and to reach out to the policyholders in a cost…
IRDAI Mandates Insurance Companies’ Participation in Lok Adalats and MACT Cases
(i) Non-participation/ unsatisfactory participation of certain insurance companies in Lok Adalats/MACT (ii) Servicing of policy holders. This is issued in accordance with the power vested under Section 34 of Insurance…
IRDAI Issues Guidelines for Aadhaar-Based e-KYC Authentication by Insurers
Clarification on Aadhaar based e-KYC 1. Authority vide circular dated 21st October, 2013 and AML Master Circular dated 28th September, 2015 allowed Aadhaar based e-KYC service offered by UIDAI for…
Insurance Times Editorial October 2017
IRDAI is examining the possibility of allowing private equity (PE) firms to buy stakes in Insurance Companies. A decision on this is likely to be taken in a month's time.…
Insurance claims relating to landslides in Wayanad, Kerala
1. The landslides in Wayanad, Kerala (July, 2024) are reported to have caused widespread loss to human lives, property (homes and businesses) and infrastructure. 2. All Insurance Companies are advised…
Vision Meet on “Insurance for All” by 2047
The "Insurance for All" Vision Meet, hosted by insurance councils over two days on August 23rd and 24th, 2024, in Mumbai, was a pivotal event aimed at laying the groundwork…
IRDAI Reinforces Policyholder Protection with New Master Circular
A Comprehensive Framework for Policyholder Rights and Transparent Claims Process The Insurance Regulatory and Development Authority of India (IRDAI) has recently released a master circular to strengthen the protection of…
Roadmap for creating a database to be housed in IIB
It may be recalled that the creation of the database started with the issuance of Point of Sales person guidelines. The purpose was to check deduplication of POS enrolled by…
IRDAI Defers Ind AS Implementation for Insurance Sector to 2020-21, Proforma Reporting Continues
1. The Authority, in order to prepare the insurance industry for Implementation of Ind AS and to provide suitable guidelines wherever required, had constituted an Implementation Group vide Order reference…