IRDAI which had earlier directed insurers to ensure that claims on existing health policies are not rejected based on exclusions for genetic disorders, has put that direction on hold. In…
PSU general insurance companies have still not got CMD inspite of post being lying vacant since long. Resultantly the market share of companies are also declining. According to the latest…
IRDAI conducts onsite inspection of insurers, intermediaries, insurance intermediaries and other organizations connected with insurance business under the provisions of Section 14 (2) (h) of IRDA Act, 1999 by normally…
General insurers in India are facing challenges in implementing the Supreme Court order asking them to issue three-year and five-year insurance policies for new four-wheelers and two-wheelers, respectively. General insurers…
IRDAI has directed all insurance companies to initiate immediate steps for quick registration and disposal of claims in Kerala. “The recent floods have caused immense loss to life and property…
The Government of India has enacted the Right to Information Act, 2005 (http://www.persmin.nic.in) which has come into effect from October 13, 2005. The Right to Information under this Act is…
In partial modification of Annexure 1 of Chapter III of the ‘Guidelines on standardization of Health insurance business’ issued vide Circular Ref: IRDA/HLT/REG/CIR/146/07/2016 dated 29.07.2016, the following items are deleted from the said list of…
Attention is drawn to the Chapter II Licensing Procedure Reg. 3 and Reg. 4 of IRDAI (Insurance surveyors and Loss Assessors Regulations), 2015 which includes “fit & proper criteria” for…
The Guidelines on Product Filing Procedures for General Insurance Products (hereinafter referred to as 'Guidelines') vide IRDAI/NL/GDL/F&U/030/02/2016 dated 18th February, 2016 provides the regulatory framework for the 'Use and File' apart from 'File and…
IRDAI has defended the exemption given to LIC for acquiring up to 51% stake in the IDBI Bank, saying the decision was based purely on merits of the case. Nilesh…