136 results found
Tuli & Co | India | 28 Mar 2023
IRDAI's revamped guidelines for cross border re-insurers
The Insurance Regulatory and Development Authority (IRDAI) recently issued the Guidelines on Issuance of File Reference Numbers to Cross Border Re-insurers, which have superseded the former guidance. The stated objective for the 2023 CBR Guidelines is to "streamline the regulatory process with respect to cross border re-insurers" and to "enhance the ease of doing business".
Tuli & Co | India | 24 Feb 2023
Insurance Litigation in India
Tuli & Co | India | 17 Jan 2023
Government issues the Insurance Laws Amendment Bill 2022: what you need to know
🕑 13 minutes The government of India recently issued a draft bill titled the Insurance Laws (Amendment) Bill, which proposes significant amendments to the Insurance Act 1938 and the Insurance Regulatory and Development Authority Act 1999. The changes appear to have followed long-standing views expressed by various stakeholders in the industry and, if notified as proposed, may have a......
Tuli & Co | India | 10 Jan 2023
IRDAI Regulations 2022: revamp of old regime
🕑 3 minutes The Insurance Regulatory and Development Authority of India (IRDAI) recently released an exposure draft on the IRDAI (Registration of Indian Insurance Companies) Regulations 2022, introducing multiple changes to the insurance regulatory framework governing applicant entities. Following comments from stakeholders, the IRDAI released the finalised regulations, and the key changes......
Tuli & Co | India | 10 Jan 2023
IRDAI's second exposure draft on reinsurance of 2022
🕑 8 minutes In October 2022, the Insurance Regulatory and Development Authority (IRDAI) issued an exposure draft on the IRDAI (Re-insurance) (Amendment) Regulations 2022. Following comments from various stakeholders on the October draft, the IRDAI has now issued a revised exposure draft in consultation with the Insurance Advisory Committee. This article provides a summary of the changes......
Tuli & Co | India | 29 Nov 2022
The Insurance Disputes Law Review: India
Tuli & Co | India | 29 Nov 2022
Exposure draft on IRDAI Registration Regulations: overhaul of existing regulations
🕑 5 minutes The Insurance Regulatory and Development Authority of India (IRDAI) recently released an exposure draft on the IRDAI (Registration of Indian Insurance Companies) Regulations 2022. The draft regulations follow from the recent increase in the permissible limit of foreign direct investment in insurance companies and other related changes to the insurance regulatory framework in......
Tuli & Co | India | 15 Nov 2022
IRDAI's exposure draft for reinsurance 2022
🕑 5 minutes In its continuing objective to promote insurance penetration in India and to ease the process of doing business, the Insurance Regulatory and Development Authority (IRDAI) has issued an exposure draft on the IRDAI Regulations 2022. The draft amendment proposes to make significant changes to the present reinsurance framework in India. This article details the primary changes that......
Tuli & Co | India | 1 Nov 2022
IRDAI imposes new AML/CTF obligations on insurers
🕑 5 minutes Under the Prevention of Money Laundering Act 2002 and the Prevention of Money Laundering (Maintenance of records) Rules 2005, the Insurance Regulatory and Development Authority (IRDAI) has, from time to time, notified guidelines on anti-money laundering for insurers. Recently, the IRDAI notified the Master Guidelines on Anti-Money Laundering/Counter Financing of Terrorism 2022,......
Tuli & Co | India | 13 Sep 2022
IRDAI issues exposure draft on commissions and remuneration in Indian insurance sector
The commission, remuneration and rewards payable to insurance agents and insurance intermediaries for the solicitation and procurement of insurance business have historically been strictly regulated. The Insurance Regulatory and Development Authority recently released an exposure draft of new regulations to lift the existing commission and remuneration limits and permit insurance companies to......
