IRDAI issues instructions for rescheduling of payment towards term loans
The Insurance Regulatory and Development Authority of India has permitted insurers to grant a moratorium of three months towards payment of installments falling due between 1st June 2020 and 31st August 2020.
IRDAI modifies guidelines on the standard individual health insurance products
The Insurance Regulatory and Development Authority of India has modified the norms of ‘Arogya Sanjeevani Policy’ by allowing health insurers to offer a minimum sum insured of less than Rs 1 lakh and a maximum of greater than Rs 5 lakh.
IRDAI issues timeline for submission of life operational returns in BAP
The due date for life insurers to submit monthly return shall be 8th of the following month and Unaudited quarterly returns shall be filed on 30th day from the end of the quarter and Audited Annual Returns shall be filed on 30th June through Business Analytics Project (BAP) module.
IRDAI issues guidelines on COVID Standard Health Policy
The Insurance Regulatory and Development Authority of India on 26th June 2020 has mandated all general and health insurers to offer Individual Covid Standard Health Policy by 10th July 2020.
IRDAI issues guidelines on short term health insurance policies providing coverage for COVID-19 disease
Life, General and Health Insurers are allowed to offer COVID–19 specific short term health insurance policies based on guidelines for a term between 3-11 years.
IRDAI modifies Guidelines on Product filing in Health Insurance Business
The provisions of these guidelines shall be applicable to the Health Insurance products filed as per Guidelines on Product Filing in Health Insurance Business on or after 01st October, 2020.
IRDAI issues guidelines on standardization of general clauses in Health Insurance Policy contracts
IRDAI has issued guidelines on standardization of general clauses in health insurance policy contracts under the IRDAI (Health Insurance) Regulations, 2016. These Guidelines are applicable to all General and Health Insurers offering indemnity based Health Insurance (excluding PA and Domestic / Overseas Travel) products (both Individual and Group).
IRDAI directs insurers to include telemedicine as part of the claim settlement of policy
The Insurance Regulatory and Development Authority of India in its notification dated 11th June 2020 has advised insurers to allow telemedicine wherever consultation with a medical practitioner is allowed in the terms and conditions of policy contract.
IRDAI issues guidelines on public disclosures by health insurers
The Insurance Regulatory and Development Authority of India vide its notification dated 10th June 2020 has directed the general and health insurance providers registered with IRDAI rendering health services to disclose the qualitative and quantitative parameters of the health service rendered to their policyholders.
Draft Employees’ State Insurance (Central) Amendment Rules, 2020
According to the new Employees’ State Insurance (Central) Amendment Rules, 2020, the expenditure incurred by a non-official member residing at a place where the meeting is held has been raised from Rs.150 to Rs 338 for each day for travel within the city and the daily allowance has been changed to Rs.2250 per day if the member stays in hotel & Rs.900 per day as the expense towards the food.
