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COMPLIANCE WITH IRDAI
IRDAI proposals on insurance’s money machine leads to bloodbath for stocks: What happens to your moneyInsurance premiums may decrease if the Insurance Regulatory and Development Authority of India implements proposed commission changes. Prop...- Selling insurance but not handling customer grievances: IRDAI fines IndusInd Bank Rs 1 crore; here's what policyholders should knowIndusInd Bank faces a Rs 1 crore penalty from IRDAI for failing to provide an adequate, insurance-specific grievance redressal mechanism fo...
- Irdai fines ICICI Lombard Rs 1 crore for outsourcing, vendor management lapsesThe Insurance Regulatory and Development Authority of India has imposed a ₹1 crore penalty on ICICI Lombard General Insurance for lapses in...
- Sebi proposes merchant banker exemption for small-value private debt issuesSebi has proposed waiving mandatory merchant banker appointments for eligible listed issuers raising small-value debt privately. The move a...
- IRDAI bars Niva Bupa from opening new offices for six monthsNiva Bupa Health Insurance received an order from the regulator to halt new places of business. This action stems from failing to meet expe...
- Sebi broadens scope of online bond platforms, permits IFSCA-regulated products and tax-saving bondsSEBI has expanded the scope for Online Bond Platform Providers (OBPPs), allowing them to offer IFSCA-regulated products and specific tax-sa...
- No insurance, no fuel? Supreme Court proposes pilot project, extends tenure of third party insurance cover for new vehiclesThe Supreme Court has proposed new measures to address widespread non-compliance with mandatory motor insurance laws. Automatic e-challans ...
- SC proposes no fuel for uninsured vehicles, seeks tech-driven road safety overhaulThe Supreme Court has directed the Centre to design a pilot project denying fuel to uninsured vehicles. This initiative aims to improve roa...
- Surrender and withdrawals as a share of total benefits paid by life insurers rise to 39%Surrender and withdrawal benefits paid by life insurers have increased significantly. These benefits now exceed maturity benefits paid by t...
- LIC appoints Shatmanyu Shrivastava as new CFO, replacing Sunil AgrawalShatmanyu Shrivastava has been appointed as the new Chief Financial Officer of LIC. He replaces Sunil Agrawal, who resigned from the financ...
- Motor insurance: Consider issuing circular standardising cross-border coverage clauses, SC to IRDAIThe Supreme Court on Monday asked IRDAI to consider issuing a master circular to standardise cross-border coverage clauses in motor insuran...
- First phase pilot of Risk Based Supervision from next month: IRDAIThe Insurance Regulatory and Development Authority of India (IRDAI) is launching the first phase of pilot 'Risk-Based Supervision' (RBS) ne...
- Irdai proposes to tighten norms for media campaigns by insurersUnder the proposed amendment, each insurer will be required to constitute an advertisement committee comprising at least three members mand...
- Compliance relief: Irdai reduces number of returns to be filed by insurers for health insuranceIn India, insurers are mandated to submit various returns to the regulator, including financial statements on annual basis, valuation of as...
- Irdai imposes Rs 51 lakh penalty on 4 insurersA penalty of Rs 25 lakh has been imposed on SBI General Insurance Company for not fulfilling regulatory obligations under the Motor Third P...
- IRDAI imposes Rs 15 lakh penalty on Bharti AXA General Insurance CompanyRegulator Irdai has imposed a total penalty of Rs 15 lakhs on Bharti AXA General Insurance Company in two different cases for violation of ...
- Postmen, grameen dak sevaks may soon start selling insurance policiesThe IPPB, which is a corporate agent, can seek permission from Irdai for sponsoring postmen and grameen dak sevaks of Department of Posts (...
- Insurers to file compliance to investment norms form March"As the Regulations mandate certain systems and process to be put in place, the IRDAI (Investment) Regulations, 2016 shall be effective fro...
- IRDAI warns Sahara India Life Insurance on non-complianceIRDAI has warned Sahara India Life Insurance Co for non-compliance of 'Expenses of Management' (EoM) norms, and asked it to bring the expen...
- Irdai slaps Rs 10 lakh fine on Reliance General, RLICWhile in the matter of Reliance Life, Irdai imposed a penalty of Rs 5 lakh for non-disclosure of status of RCL being a subsidiary company.
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