Ref:IRDA/INT/CIRC/INSRE/197/11/2015 Date:06-11-2015 Electronic Motor Insurance Policies: As a part of their digital initiative, the Govt of Telanganais agreeable to recognize the electronic version of Motor Insurance policies as evidence of insurance of vehicles. Issuance of electronic Motor policies can be seen in the light of cost efficiency, faster delivery of insurance policies and arresting fraud.… Read More »
Ref:IRDA/NL/CIRI/MOTP/196/11/2015 Date:04-11-2015 The Motor Vehicles Amendment Act, 2015, as notified in the Gazette of India on 20th March 2015, brings the e-carts and e-rickshaws under its ambit. As per the amendment, e-carts or e-rickshaws are special purpose battery powered vehicles not exceeding 4000 watts, having three wheels for carrying goods or passengers, as the case… Read More »
Ref: IRDA/CAD/CIR/MISC/194/11/2105 Date: 03-11-2015 IRDAI has been receiving complaints from policyholders against the insurers regarding non-compliance of Orders/Awards passed by Judicial/Quasi-judicial bodies such as (a)Orders of Consumer Forums (b) Orders of the Motor Accident Claims Tribunals(MACT) and (c) Awards of the Insurance Ombudsmen . 2. Considering the fact that the complainant is already aggrieved, further delay in compliance… Read More »
Insurance Regulatory and and Development Authority of India No .IRDA/ADMN/CIR/PER/189/11/2015 Circular 2nd November 2015 List Of Holidays 2016
Unit Linked Insurance Polices (ULIPS) Date: 23-10-2007 Frequently Asked Questions (FAQs) Unit linked guidelines were notified by IRDA on 21st December 2005. The main intent of the guidelines was to ensure that they lead to greater transparency and understanding of these products among the insured, especially since the investment risk is borne by the… Read More »
Ref:IRDA/ADMN/NTFN/PER/187/10/2015 Date:30-10-2015 Application for Internship IRDAI proposes to offer internship commencing in December 2015 for a period of 2 to 3 months to eligible students who are pursuing their studies in different faculties in IITs/IIMs/Central Universities/National Law Schools and similar other… Read More »
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 19th October, 2015 Insurance Regulatory Development Authority of India (Registration and Operations of Branch Offices of Foreign Reinsurers other than Lloyd’s) Regulations, 2015 F.No.IRDAI/Reg/17/107/2015.—In exercise of the powers conferred by Section 3 read with 114A of the Insurance Act, 1938, and sections 14 read with… Read More »
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA NOTIFICATION Hyderabad, the 16th September, 2015 Insurance Regulatory and Development Authority of India (Acquisition of Surrender and Paid Up Values) Regulations, 2015 F. No. IRDAI/Reg/15/105/2015.—In exercise of the powers conferred under Section 114 (A) of the Insurance Act, 1938 read with Section 26 of Insurance Regulatory and Development… Read More »
GUIDELINES ON POINT OF SALES PERSON CIRCULAR NO. IRDA/INT/GDL/ORD/183/10/2015, DATED 26-10-2015 The Authority has observed that there are number of persons who are involved in undertaking simple and routine activities pertaining to solicitation and marketing of insurance policies. For e.g. bulk of products in motor insurance, travel insurance, personal accident insurance, etc. require very little… Read More »
All insurers having joint ventures with foreign players will have to ensure that the company is owned and controlled by the Indian stakeholders. As per the guidelines on ‘Indian owned and controlled’ insurance companies issued by the Insurance Regulatory and Development Authority of India (IRDAI), insurers will have to file an undertaking with the regulator… Read More »