Mondaq All Regions - India: Insurance
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.
Shardul Amarchand Mangaldas & Co
While granting the approval, it is customary for the IRDAI to impose a lock-in period on the shares acquired.
Shardul Amarchand Mangaldas & Co
The Indian insurance sector has come a long way over the past decade with some of the marque international insurance players tying up with domestic partners to promote insurance companies in India.
Nishith Desai Associates
After a long prolonged battle, the insurance sector was finally opened to 49% foreign investment, with investment above 26% being under the government approval route.
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Tuli & Co
The insurance statutory and regulatory framework has, historically, strictly restricted the amount of commission or remuneration that can be paid to insurance agents and insurance intermediaries (such as insurance brokers, corporate agents, web aggregators and insurance marketing firms) for the solicitation and procurement of insurance business.
Agram Legal Consultants
The Insurance Regulatory and Development Authority of India has on December 15, 2015 issued the IRDA (Issuance of Capital by Indian Insurance Companies transacting other than Life Insurance Business) Regulations, 2015.
Seth Dua & Associates
In commercial supply agreements/contracts, sometimes supplier of goods prefers to take insurance in order to avoid the risk of payment by the buyer.
Shardul Amarchand Mangaldas & Co
While granting the approval, it is customary for the IRDAI to impose a lock-in period on the shares acquired.
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)...
Tuli & Co
The Indian insurance sector has witnessed various reforms since the notification of the Insurance Laws (Amendment) Act 2015 (Amendment Act).
Tuli & Co
Until very recently, the IRDAI's Guidelines on "File and Use" Requirements for General Insurance Products of 28th September 2006 governed the procedures and processes for introducing, modifying and withdrawing general insurance products.
Trilegal
Earlier such appeals lay only to the central government.
Clyde & Co
On 30 October 2015 the Insurance Regulatory and Development Authority of India released the eagerly awaited Insurance Regulatory Development Authority of India Regulations, 2015.
Nishith Desai Associates
After a long prolonged battle, the insurance sector was finally opened to 49% foreign investment, with investment above 26% being under the government approval route.
Clyde & Co
In the last month the Tamil Nadu and Andhra Pradesh regions of India have suffered devastating floods, with the Chennai metropolitan region particularly damaged.
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.
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