Posts In: Insurance

IRDAI prescribes specific directions for the preparation of Solvency Statement under the IRDA (Assets, Liabilities, and Solvency Margin of General Insurance Business) Regulations, 2016 from the first quarter of 2019-2020

May 23, 2019 Insurance, Insurance 0

The Insurance Regulatory and Development Authority of India (“Authority / IRDAI”) has observed in the Solvency Returns filed to them that, computations under Available Solvency...

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IRDAI amends the IRDAI (Appointed Actuary) Regulation 2017, effective 15th May, 2019

May 23, 2019 Insurance, Insurance, states 0

The Insurance Regulatory and Development Authority of India (“IRDAI”) has introduced an amendment to the IRDAI (Appointed Actuary) Regulations, 2017 (2017 Regulation). It gains immediate...

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Implementation of Electronic Transaction Administration and Settlement System for capturing of Co-insurance transactions, reconciliation and settlement of balances between member insurance companies

May 23, 2019 Insurance, Insurance, states 0

The General Insurance Council (“Council”) has been implementing Electronic Transaction Administration and Settlement System (“ETASS”) for capturing of Co-insurance transactions, reconciliation and settlement of balances between...

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IRDAI issues Guidelines to Life Insurers for speedy settlement of life insurance claims of victims of Cyclone Fani

May 10, 2019 Insurance, Insurance, states 0

The Insurance Regulatory and Development Authority of India “IRDAI” keeping in mind the devastation caused to property and lives by the cyclone Fani, has laid...

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IRDA directs all insurers to ensure clear communication of information to policy holders; mandates setting up of mechanism for transparency in claim settlement procedure by July 1, 2019

April 30, 2019 Insurance, Insurance, states 0

The Insurance Regulatory and Development Authority of India (“IRDA”) has, in a circular dated April 10, 2019, directed all insurers to ensure that there is...

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IRDA clarifies that Insurers raising capital by issuing debentures must create Debenture Redemption Reserve under Companies Act, 2013

August 17, 2017 Insurance 0

In a recent circular dated 4th August, 2017 issued under the IRDAI (Other Forms of Capital) Regulations, 2015 (“Regulations”), the Insurance Regulatory and Development Authority of India (“IRDA”) has,advised  insurers, who...

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IRDAI issues quarterly and annual formats to all Life, Health and General Insurers to check status of issuance of e-Insurance Policies

June 13, 2017 Insurance 0

In a recent circular (Ref. No. IRDA/INT/CIR/INSRE/133/06/2017)  dated 8th June, 2017,  the  Insurance Regulatory and Development Authority of India (IRDAI) has issued quarterly and annual...

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IRDAI advises all insurers and insurance intermediaries to upload the existing database of their POS in the portal

April 21, 2017 Insurance 0

This is further to the trail update. The Insurance Regulatory and Development Authority of India (“IRDAI”) has issued a Circular on Point of Salesperson (“POS”)...

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IRDA issues the Guidelines on Stewardship Code for Insurers in India

March 23, 2017 Insurance 0

The Insurance Regulatory and Development Authority of India (“IRDA”) has issued the Guidelines on Stewardship Code for Insurers in India (“Guidelines”) on 22ndMarch, 2017. The...

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IRDAI issues circular on filing and usage procedure for minor modifications in the products offered by Life Insurers

March 21, 2017 Insurance 0

The Insurance Regulatory and Development Authority of India (“IRDAI”) has recently issued a circular regarding the file and use procedure for minor modifications under existing...

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