Category: Regulatory Updates

  • Regulatory Updates

IRDAI DRAFT CIRCULAR ON ACCOUNTING OF PREMIUM CLAIMS AND RELATED EXPENSES

IRDAI vide its email dated September 28, 2023 has issued a draft circular on Accounting of Premium, claims and related expenses by Insurers, Reinsurers and FRBs including Lloyds of India Background : IRDAI vide its circular

IRDAI OPEN HOUSE FOR INSURTECH & FINTECH ENTITIES

IRDAI vide Press Release dated September 15, 2023 has decided to hold an Open House (OH) for InsurTech/FinTech (IT/FT) entities for: engaging with them, to foster dialogue and bring in technological innovation in various facets of

DIRECTIONS FROM TRAI FOR CURBING MENACE OF UNSOLICITED COMMERCIAL COMMUNICATION.

IRDAI vide Circular dated September 15, 2023 has notified all Insurers and Insurance Intermediaries about the letter received from Chairman of Telecom Regulatory Authority of India (TRAI) dated August 8, 2023 pertaining to the backdrop of

IRDAI CIRCULAR ON DIRECTIONS FROM TRAI PERTAINING TO COMMERCIAL COMMUNICATIONS.

IRDAI vide circular dated September 15, 2023 has notified about the directions issued by The Telecom Regulatory Authority of India (“TRAI”) dated February 16, 2023, May 12, 2023 and June 02, 2023, requiring all Principal Entities

IRDAI CONSTITUTION OF INTER-DISCIPLINARY STANDING COMMITTEE ON CYBER SECURITY

IRDAI vide Office Order dated September 14, 2023 has notified about the constitution of Inter-Disciplinary Standing Committee on Cyber Security. Reference can be drawn to Cyber Security Guidelines dated April 24, 2023. The committee shall review

IRDAI NOTIFICATION PERTAINING TO IMPLEMENTATION OF AADHAR BASED E-KYC

IRDAI vide circular ref no. 810.1/3/SDD/AML-CFT/2022 dated September 14, 2023 has directed insurers to lay down mechanism for implementation of Aadhaar based e-KYC authentication facility as provided by Unique Identification Authority of India (UIDAI) for undertaking

IFSCA GUIDANCE NOTE ON CORRESPONDING CHANGES IN ANTI MONEY LAUNDERING, COUNTER-TERRORIST

The International Financial Services Centres Authority (IFSCA) vide circular ref no. 939/IFSCA/FATF-C/PMLA/2023-24 dated September 08, 2023 has issued a guidance note on corresponding changes in the IFSCA (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer)

IRDAI CIRCULAR ON SIMPLIFICATION OF KYC UPDATION PROCESS FOR CUSTOMER

IRDAI vide circular ref no. IRDAI/IID/AMLCFT/1/2023-24 dated September 7, 2023 ( circulated by the General Insurance Council on September 13, 2023 ) has issued directions for simplification of the KYC updation process for existing customers and

IRDAI PRESS RELEASE ON BIMA MANTHAN

IRDAI vide Press Release dated September 06, 2023 has notified about the Bima Manthan which was conducted on September 04, 2023 and September 05, 2023, at Hyderabad. The discussions, deliberations and insights highlight the dedication towards

Aadhaar authentication service notification

Ministry of Finance vide reference number S.O. 3965(E), dated September 6, 2023 has notified the below tabled reporting entities to undertake Aadhaar authentication service of the Unique Identification Authority of India under section 11A of the