Mondaq India: Insurance
Tuli & Co
Indian insurance laws have traditionally restricted distribution of insurance products to insurance agents and insurance intermediaries who have obtained the requisite license/registration from the Insurance Regulatory and Development Authority of India (IRDAI).
Clyde & Co
Shockwaves have been felt in India, following the Tata-Cyrus Mistry fallout, which could result in potentially significant exposures for Indian Insurers and global Reinsurers.
Khaitan & Co
Insurance distribution involves marketing to clients by an insurer's in-house team and engaging intermediaries such as individual agents, corporate agents, and point of sales persons.
Khaitan & Co
In a landmark move, the Insurance Regulatory and Development Authority of India (IRDAI) appointed an administrator to manage the affairs of Sahara India Life Insurance Company Limited with immediate effect.
Clyde & Co
Lloyd's of London ("Lloyd's") has recently obtained final regulatory approval from the Insurance Regulatory and Development Authority of India ("IRDAI")...
Clyde & Co
Previously, foreign investment beyond 26 per cent and up to 49 per cent required the prior approval of the government (through the Foreign Investment Promotion Board ("FIPB")).
Tuli & Co
Health insurance business in India has, traditionally, been regulated by the framework governing general insurance business as issued by the Insurance Regulatory and Development Authority of India (IRDAI)...
Phoenix Legal
The 2014 Bill proposes to provide insurers the right to challenge/appeal against orders passed by the IRDA before the SAT.
Phoenix Legal
The (Indian) Insurance Act, 1938 allows the capital of an Indian insurance company to consist of equity shares and such other forms of capital as may be prescribed by regulations.
Phoenix Legal
The Insurance Regulatory and Development Authority of India ("IRDAI") has issued Guidelines ("Guidelines") on 19 October 2015 to further clarify "Indian Owned and Controlled" requirement for Indian insurance companies.
Phoenix Legal
The Insurance Regulatory Development Authority of India ("IRDAI") has, by way of a circular dated 18 May, 2016 issued revised Guidelines for Corporate Governance for insurers in India ("CG Guidelines").
Phoenix Legal
The Insurance Regulatory and Development Authority of India ("IRDAI") has, by way of a circular dated 18 May, 2015, issued the IRDAI (Transfer of Equity Shares of Insurance Companies) Regulations, 2015...
Phoenix Legal
The Foreign Investment Rules will now have to be placed before each House of Parliament for thirty days.
Phoenix Legal
The Insurance Laws (Amendment) Act, 2015, an Act to amend, inter alia, the (Indian) Insurance Act, 1938 and the Insurance Regulatory and Development Authority Act, 1999 has been notified and published in the official gazette.
Phoenix Legal
Owing to a lack of majority of the ruling party in the Upper House, the Ordinance is unlikely to be approved by the Upper House unless the ruling party successfully mobilises its support.
Shardul Amarchand Mangaldas & Co
Limits on remuneration/rewards to intermediaries has been an area which is highly controversial and keenly debated, following the changes introduced by the Insurance Laws (Amendment) Act, 2015.
Tuli & Co
The focus and emphasis on corporate governance increased significantly since the corporate fraud and internal governance failure came to light in the context of Satyam Computer Services Limited.
Shardul Amarchand Mangaldas & Co
The Government of India recently liberalised its policy on foreign investment in the insurance sector, permitting foreign direct investment up to 49% of the paid-up capital of an Indian insurance company under the automatic route.
Shardul Amarchand Mangaldas & Co
Late last year, the IRDAI had released an exposure draft on regulations governing the establishment and operation of the proposed Indian branch of the Lloyd's of London.
Shardul Amarchand Mangaldas & Co
Interestingly, the Amendment Regulations also seek certified copies of the approval given by FIPB from applicants.
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This amended procedure shall be applicable to all the offers for which Public Announcement is made on or after January 2, 2017.
Khaitan & Co
Insurance distribution involves marketing to clients by an insurer's in-house team and engaging intermediaries such as individual agents, corporate agents, and point of sales persons.
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