IRDAI has issued a circular vide Ref no. IRDA/F&A/CIR/MISC/123/6/2022 dated June 15, 2022 on “Accounting of Premium, claims and related expenses on estimation basis” (Circular). Background: IRDAI, after carrying out an analysis of the premium recognized
IRDAI has issued a Press Release on ‘Reduced compliance burden for insurance companies’, dated June 14, 2022 (Press Release). IRDAI expects that the move of reducing/discontinuing various regulatory returns in Life, General and Health insurance would
IRDAI in continuation to its Circular dated June 13, 2022 has issued a Press release on “Solvency margin for Crop insurance business” dated June 14, 2022. IRDAI anticipates that the extension of the relaxation given under
IRDAI vide ref. no. IRDAI/ACTL/CIR/SLM/122/06/2022 dated June 13, 2022, has issued a Circular on “Solvency margin for Crop insurance business”. Background: The Circular draws reference to the earlier Circular No. IRDA/ACT/CIR/SLM/066/03/2017 dated March 28, 2017 on
IRDAI has issued a circular vide Ref no. IRDAI/INT/MISC/CIR/113/6/2022 dated June 06, 2022, on Launching of self-deactivation facility over IIB’s ENVOY portal (Circular). The major highlights of the Circular are as follows: A new provision has
IRDAI vide reference no. IRDAI/REIN/CIR/MISC/112/6/2022 has issued a Circular on ‘Disclosures by FRBs/Lloyd’s India’ dated June 3, 2022 (Circular). Foreign Reinsurance Branches (FRBs) and Lloyd’s India do not directly deal with retail customers and accordingly the
IRDAI has issued an Exposure Draft dated June 3, 2022 on the proposed changes to the IRDAI (Appointed Actuary) Regulations, 2017 for seeking comments, suggestions of the stakeholders. The key modification proposed in the existing Regulations
IRDAI has issued an Order bearing reference number IRDAI/F&A/ORD/MISC/109/6/2022 dated June 3, 2022 in the matter of Aditya Birla Health Insurance Co. Ltd ( ‘ABHICL’ ), pertaining to Section 40C of the Insurance Act, 1938 (Act)
IRDAI has issued circular vide Ref no. IRDAI/HLT/REG/CIR/108/06/2022 dated June 1, 2022, on Use and file procedure for all categories of products under health insurance business –reg’ (Circular), superseding the earlier circular issued on Modification guidelines
IRDAI has comprehensively reviewed the Master Guidelines on Anti Money Laundering/Counter Financing of Terrorism (AML/CFT), taking into consideration of extant PML Act and Rules and the dynamics of the insurance industry and has issued ‘Draft Master