Category: Regulatory Updates

  • Regulatory Updates

First year premium of Life Insurers as at 31.05.2023

IRDAI has uploaded the Industry statistics on the First year Premium for Life Insurers for the Financial Year 2023-24 Summary of the details are as under: New Business Statement of Life Insurers for the Period ended

IRDAI – Press Release – REGISTRATION OF A NEW LIFE INSURER

IRDAI vide a press note dated June 09, 2023 has announced that Go Digit Life Insurance Limited has been granted a Certificate of Registration to carry life insurance business in India. Source category: IRDAI Attachments /2023/213_Press_Note_-_Registration_of_a_new_life_insurer.pdf

Creation of facility to capture ABHA number of proposers

IRDAI vide ref no. F. No. IRDAI/HLT/CIR/MISC/123/06/2023 dated June 8, 2023 has issued a Circular on “Creation of facility to capture Ayushman Bharat Health Account (ABHA) number of proposers”. ABHA has been developed as part of

Testing and adoption of Health Claims Exchange (HCX) Specifications and -claim standard

IRDAI vide ref no. IRDAI/HLT/CIR/MISC/124/06/2023 dated June 08, 2023 has issued Circular on Testing and adoption of Health Claims Exchange (HCX) specifications and e-claim standards. National Health Claims Exchange (NCHX) is a new initiative under the

Investments in National Bank for Financing Infrastructure and Development

IRDAI vide its Circular dated June 5, 2023 has discussed about the National Bank for Financing Infrastructure and Development (NaBFID) which is established under National Bank for Financing Infrastructure and Development Act, 2021 to support the

IRDAI-Settlement of Claims due to Train accident, Balasore

IRDAI vide its circular bearing number IRDAI/NL/CIR/GDL/122 /06/2023 dated June 05, 2023 has issued guidelines related to Claims of victims of the recent Train tragedy in Balasore and has directed all CEOs/CMDs of Life, General and

Transfer of Life Insurance Business of Sahara India Life Insurance to SBI Life Insurance

IRDAI vide a press release dated June 02, 2023 has stated that the Certificate of Registration of Sahara India Life Insurance Co Ltd (SILIC) that was given in 2004 shall be transferred to SBI Life Insurance

IRDAI-Bima Vahak Guidelines.

IRDAI vide its circular dated June 01, 2023 has issued a Draft of Bima Vahak (BV) Guidelines (Guidelines) and have called for comments/suggestions from stakeholders, and they are requested to submit the same on or before

IRDAI vide its circular dated May 24, 2023 has issued a Draft of Bima Vahak Guidelines (Guidelines) Through…

IRDAI vide its circular dated May 24, 2023 has issued a Draft of Bima Vahak Guidelines (Guidelines) Through the Guidelines, the IRDAI proposes to establish a dedicated distribution channel, focused on creating insurance awareness and enabling

Press Release – Open House for InsurTech and Fintech Entities

IRDAI, vide a press release dated May 23, 2023, has expressed their intent to hold an Open house for InsurTech and Fintech entities. The objective of the open house is to invite suggestions and ideas from