Tag Archives: IRDA

IRDA allows banks to act as insurance brokers

By Rohit Padhi, Associate The Insurance Regulatory Development Authority (“IRDA”) vide its notification IRDA/Reg/21/79/2013 dated August 8, 2013 has allowed banks to act as insurance brokers and sell products of more than one insurer so as to increase the penetration … Continue reading

Posted in Uncategorized | Tagged , , , , , , | Leave a comment

Exposure Draft on Standardisation in Health Insurance

By Ashutosh Sharma, Associate Health insurance addresses a major area of public concern. Although it is rapidly growing, access to health insurance still remains limited and add to it complaints especially due to variable interpretations of key policy terms are … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , | Leave a comment

IRDA Allows Insurers to Participate in Repo/Reverse Repo Transactions in Corporate Debt Securities

By Rohit Padhi, Associate The Insurance Regulatory Development Authority (“IRDA”) vide circular IRDA/F&I/CIR/INV/250/12/2012 dated December 4, 2012 (“Circular”), has allowed the insurers to undertake Repo transactions in corporate debt securities (“CDS”) subject to certain conditions. The abovementioned circular of IRDA … Continue reading

Posted in Uncategorized | Tagged , , , , , | Leave a comment

IRDA issues Draft Regulations for Licensing of Bancassurance Entities

By Nitesh Tiwari, Associate “Bancassurance” is an arrangement whereby the bank is allowed to provide its consumers with insurance policies or such similar products. This arrangement allows insurance companies (“Insurers”) to sell insurance policies through the bank with which they … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , | Leave a comment

IRDA: Web-based Integrated Licencing Management System for Licenced Individual & Corporate Surveyors and Loss Assessors

By Robin Quadros, Associate The Insurance Regulatory & Development Authority (“IRDA“) on October 3, 2012 vide circular No. IRDA/SUR/MISC/CIR/225/10/2012 has informed all Licenced Individual & Corporate Surveyors and Loss Assessors that the authority is in the process of implementing a … Continue reading

Posted in Uncategorized | Tagged , , , , , | 1 Comment

IRDA: Time Limit Prescribed For Filing Referral Applications

By Surabhi Kochar, Associate In 2010, the Insurance Regulatory and Development Authority (“IRDA”) introduced the Sharing of Database Regulations (hereinafter referred to as the “Referral Regulations”) for regulating referral agreements between insurers and other companies (hereinafter referred to as “Referral … Continue reading

Posted in Uncategorized | Tagged , , , , , , | Leave a comment

IRDA issues Master Circular on Preparation of Financial Statements for General Insurance Business

By Abhishek Emmanuel Kisku The Insurance Regulatory and Development Authority (“IRDA”) in an attempt to streamline the process of the preparation of financial statements of General Insurance Business has through its Master Circular dated 5th October, 2012 consolidated all the … Continue reading

Posted in Uncategorized | Tagged , , , , , , , , , , , , | Leave a comment