Category: Regulatory Updates

  • Regulatory Updates

Motor Insurance advertisements issued by General Insurers on i) extra services of Third P

IRDAI vide reference no. IRDAI/NL/CIR/MISC/100/05/2022 has issued a Circular on ‘Motor Insurance Advertisements issued by General Insurers on i) extra services of Third Party Service Providers ii) discounts, savings amounts etc., dated May 13, 2022 (Circular).

Discontinuation of monthly Solvency Returns

IRDAI vide reference no. IRDAI/F&A/CIR/MISC/98/5/2022 has issued a Circular on ‘Discontinuation of monthly Solvency Returns’ dated May 12, 2022 (Circular). Major highlights of the Circular are as follows: In accordance to the Circular, insurers are directed

Filing of fire insurance products for Dwellings_ Micro and Small Businesses

IRDAI vide reference no. IRDAI/NL/CIR/MISC/96/05/2022 has issued a Circular on ‘Filing of fire insurance products for Dwellings, Micro and Small Businesses’ dated May 12, 2022 (Circular). Background The Circular draws reference of the Guidelines issued by

Rationalization of compliance requirements

IRDAI vide reference no. IRDAI/F&A/CIR/MISC/99/5/2022 has issued a Circular on ‘Rationalization of compliance requirements’ dated May 12, 2022 (Circular). Background The Circular draws reference of the earlier prescriptions issued by IRDAI on ‘Public Disclosures by Insurers’

Actuarial & reinsurance returns- Dispensing with hard copy submission

IRDAI vide reference no. IRDA/ACT/CIR/GEN/88/5/2022 has issued a Circular on ‘Actuarial & reinsurance returns- Dispensing with hard copy submission’ dated May 11, 2022 (Circular). Major highlights of the Circular are as follows: The requirement of submission

Notification on ‘Insurance Advisory Committee’

In accordance to the notification issued by IRDAI vide reference no. F. No. IRDAI/IAC/2/181/2022, dated May 4, 2022 the following have been appointed as the Members of the Insurance Advisory Committee from the date of the

Press Release – India@100 – Insurance for all

IRDAI has issued a Press Release on ‘India@100 – Insurance for all’ dated May 6, 2022 (Press Release). Major highlights of the Press Release are as follows: In order to set out a reforms agenda for

Revision of Health Insurance Regulatory Returns (7)

IRDAI vide reference no. 4/AD (Analysis)/HI Returns/2013 has issued a Circular on ‘Revision of Health Insurance Regulatory Returns’ dated May 5, 2022 (Circular). Major highlights of the Circular are as follows: IRDAI comprehensively examined the extant

IRDAI had constituted a Committee for designing of a combi product for Micro-insurance ( MI ) in February…

IRDAI had constituted a Committee for designing of a combi product for Micro-insurance (“MI”) in February 2020. The report of the Committee has now been published by IRDAI vide its communication dated April 29, 2022 (Report).

Report of the Committee on designing of Combi Products for Micro Insurance segment

IRDAI had constituted a Committee for designing of a combi product for Micro-insurance (“MI”) in February 2020. The report of the Committee has now been published by IRDAI vide its communication dated April 29, 2022 (Report).