IRDAI Standing Committee on Cyber Security

The suggestions received from the Regulated Entities in implementation of IRDAI Information and Cyber Security guidelines, 2023 will also be considered by the committee for suggesting appropriate changes in the current framework.

Report of periodic meeting of CEOs of Insurance and Reinsurance Companies at IRDAI office

The progress made towards implementation of Risk Based Capital Framework (RBC), Risk Based Supervision Framework (RBSF) and International Financial Reporting Standards (IFRS) was discussed in the meetng. It was highlighted that first Quantitative Impact Study …

IRDAI introduces additional options for withdrawn life insurance products

IRDAI has introduced measures allowing more choices and benefits for policyholders with withdrawn life insurance products to provide greater flexibility to existing policyholders while safeguarding their interests.

IRDAI issues revised customer information sheet format for health insurers

To ensure that the health insurance policy information is provided in a simple and easily understandable language, IRDAI has issued revised customer information sheet. Insurer shall provide web-link where the product related documents including the …

IRDAI directions w.r.t Reinsurance claims relating to Floods in Himachal Pradesh

General Insurers and Standalone Health Insurance Companies are advised to mobilize all resources to ensure immediate service response including outsourced functions such as Surveyors, Loss Adjustors and Investigators.

Insurance Regulatory and Development Authority of India (Re-insurance) (Amendment) Regulations, 2023

Every Indian Re-insurer including Foreign Re-insurance Branches (FRBs) shall maintain a minimum\retention within India of 50% of Indian re-insurance business underwritten.

IRDAI reconstitutes Insurance Advisory Committee

IRDAI has reconstituted the members of Insurance Advisory Committee, both individual and entities, which will be effective from the date of publication in the official gazette.

Public notice to caution general public against entities with no registration undertaking Surety insurance business

The general public are hereby advised not to undertake any transaction with unregistered entities.

Clarification regarding application for young professional program

It is a selective program where the individuals will work in the domains of Finance & Investment, Law and Technology. The notification provides the link to be used to complete the application.

General Insurance (Employees’) Pension (Amendment) Scheme, 2023

If any pensioner takes up any commercial employment at any time before the expiry of one year from the date of his retirement without the prior permission of competent authority, or commits a breach of …

IRDAI instructions to all General Insurers and Standalone Health Insurance Companies to ensure immediate service response to flood victims

Insurers are advised to respond/assist the claimants through their 24×7 helplines, special claims desks at district level with delegated claims settlement teams for speedy processing and settlement of claims including on account payments at the …

IRDAI advices insurers to respond/assist to claims of flood victims through 24×7 helplines, special claims desks & delegated claims settlement teams

Insurers are advised to respond/assist the claimants through their 24×7 helplines, special claims desks at district level with delegated claims settlement teams for speedy processing and settlement of claims including on account payments at the …

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