Category: Regulatory Updates

  • Regulatory Updates

IRDAI circular on Bima ASBA

IRDAI issued a circular having reference number IRDAI/PP&GR/CIR/MISC/37/02/2025 dated February 18, 2025, titled “One-time Mandate for blocking the amount towards premium through Unified Payments Interface (UPI mandate) for issuance of life and health insurance policies- Bima-ASBA”

IRDAI Press Release on Bima Manthan-IX

IRDAI issued a press release on February 14, 2025, announcing the ninth edition of Bima Manthan, a two-day quarterly meeting with CEOs of insurers held in Hyderabad on February 13-14, 2025, featuring candid discussions on various

IFSCA Press Release on cancellation of licence of Prowess Insurance Brokers Pvt. Ltd.

IFSCA issued a press release on the cancellation of the approval/authorization granted to Prowess Insurance Brokers Pvt. Ltd. by an order dated February 13, 2025, to operate a Branch office in GIFT IFSC as IFSC Insurance

IRDAI Office Order on reconstitution of Inter-Disciplinary Standing Committee on Cyber Security

IRDAI vide reference number IRDAI/GA&HR/GDL/MISC/33/02/2024 dated January 05, 2025, has issued an Office Order on reconstitution of Inter-Disciplinary Standing Committee on Cyber Security (“2025 Order”). The Committee, as constituted under the previous Office Order on the

IRDAI Press Release on revision in premium rates under health insurance policies for senior citizens

IRDAI issued a press release dated January 30, 2025, titled “Review of revision in premium rates under health insurance policies for senior citizens” with the aim to address the issue of steep increase in premium rates

IRDAI Order in the matter of M/s Royal Sundram General Insurance Co. Ltd.

IRDAI vide Order bearing reference number IRDAI/E&C/ORD/MISC/14/01/2025 dated January 24, 2025, issued an Order in the matter of M/s Royal Sundram General Insurance Co. Ltd. (‘Company’) with respect to the Show Cause Notice dated June 25,

IRDAI (INSURANCE ADVISORY COMMITTEE) (AMENDMENT) REGULATIONS, 2025

IRDAI has issued the regulation titled IRDAI (Insurance Advisory Committee) (Amendment) Regulations, 2025 bearing reference number IRDAI/Reg/2/209/2025 dated January 01, 2025 ,amending certain provisions of the IRDAI (Insurance Advisory Committee) Regulations, 2000, bearing reference number IRDA/Reg./7/2000,

IRDAI (RE- INSURANCE ADVISORY COMMITTEE) (AMENDMENT) REGULATIONS, 2025

IRDAI has issued the regulation titled IRDAI (Re-insurance Advisory Committee) (Amendment) Regulations, 2025, bearing reference number IRDAI/Reg/3/210/2025 dated January 01, 2025, amending certain provisions of the IRDAI (Re-insurance Advisory Committee) Regulations, 2019, bearing reference number IRDAI/Reg/10/161/2019

IRDAI (REGULATORY SANDBOX) REGULATIONS, 2025

IRDAI has issued the regulation titled IRDAI (Regulatory Sandbox) Regulations, 2025 (“Regulations”) bearing reference number IRDAI/Reg/5/212/2025 dated January 01, 2025, superseding the IRDAI (Regulatory Sandbox) Regulations, 2019, with the objective to foster innovation in the insurance

IRDAI (MAINTENANCE OF INFORMATION BY THE REGULATED ENTITIES AND SHARING OF INFORMATION BY THE AUTHOR

IRDAI has issued the regulation titled IRDAI (Maintenance of Information by the Regulated Entities and Sharing of Information by the Authority), Regulations 2025 (“Regulations”) bearing reference number IRDAI/Reg/4/211/2025 dated January 01, 2025, with the objective to